Stock futures were little modified Tuesday night.
Futures tied to the Dow Jones Industrial Average were up 5 points, while S&P 500 futures and Nasdaq 100 futures were barely above the flat line.
In regular trading the Dow fell greater than 350 points, or 1.03%. The S&P 500 and Nasdaq Composite lost 1.4% and a pair of%, respectively.
The moves got here as investors lost hope that the Federal Reserve will give you the option to engineer a soft landing. As a substitute, concerns swirled across the state of the economy and whether an economic downturn is approaching.
“Investors couldn’t resolve which they were more anxious about: an impending recession, as implied by November declines for the ISM, Chicago PMI and Philly Fed, in addition to housing data, or the specter of a more hawkish-leaning FOMC, because of this of stronger than expected employment data and factory orders,” said Sam Stovall, chief investment strategist at CFRA Research. “Stocks sold off across the board, as investors decided to take the profits generated by the last two monthly price gains, the primary since August 2021.”
Investors await more economic data this week for clues on what to anticipate from the Fed. On Wednesday, the Mortgage Bankers Association will release its weekly report of mortgage loan applications.
There are also still several corporations set to report earnings. Campbell Soup and GameStop will report results on Wednesday.
