US Stock Futures Little Changed

U.S. Stock Futures Show Little Change After S&P 500 Snaps Losing Streak; Boeing Shares Drop

U.S. stock futures remained largely unchanged on Thursday night after the S&P 500 index broke its four-day losing streak. Dow Jones Industrial Average futures fell by 43 points, or 0.13%, while S&P 500 and Nasdaq 100 futures saw dips of 0.12% and 0.19%, respectively. The drop in futures follows a nearly 3% decline in Boeing’s share price after the company announced the temporary halt of delivery for its 787 Dreamliners due to fuselage issues.

While the S&P 500 rose by 0.53% during Thursday’s session, the Dow Jones Industrial Average climbed by 108.82 points, or 0.33%, and the Nasdaq Composite gained 0.72%. However, all three indices are set to close the week with losses, with the S&P 500 down by 1.64% and the Dow Jones Industrial Average down by 1.99%. The Nasdaq Composite is also 1.67% lower and on track for its second negative week in three.

Investors remain concerned about the possibility of future interest rate hikes, especially in light of contradictory economic signals. While inflation rates have remained high, the U.S. consumer continues to show strength. The uncertainty has led to a pessimistic outlook on the equity market, with SoFi’s Liz Young stating on CNBC’s “Halftime Report” that investors are “still looking down the barrel of a gun that has not come to grips with what the consumer may or may not have strength for for the rest of the year, and what earnings are going to do for the rest of the year.”

Investors are also closely watching the upcoming January data on personal income and consumer spending, with both figures set to be released on Friday before the bell. Dow Jones consensus estimates suggest that personal income rose by 1.2% last month, up from a 0.2% increase in the prior month. Meanwhile, consumer spending is expected to have increased by 1.4% in January, up from a decline of 0.2% in the previous month. The personal consumption expenditures price index, which is the Fed’s preferred measurement of inflation, is also due to be released on Friday. Additionally, new home sales data is expected at 10 a.m. ET, with a forecasted rise of 0.6% in January to 620,000 units.

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