Dow Futures Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) on Friday closed down -1.12%, the Dow Jones Industrials Index ($DOWI) closed down -0.88%, and the Nasdaq 100 Index ($IUXX) closed down -1.30%.
U.S. stock indexes on Friday retreated with the S&P 500 and Nasdaq 100 falling to 1-1/2 month lows. Stock prices slumped due to a sell-off in technology stocks. Volatility in stocks was exacerbated due to Friday's "quadruple witching," a quarterly event that fuels volatility in stocks as large derivatives positions are rolled over and many indexes are rebalanced. Mixed U.S. data on Friday and an increase in Chinese tensions also weighed on equities.
Friday's U.S. economic data was mixed for stocks. The University of Michigan U.S. Sep consumer sentiment rose +4.8 to a 6-month high of 78.9, stronger than expectations of +0.9 to 75.0. Conversely, the U.S. Q2 current account balance was in deficit by -$170.5 billion, wider than expectations of -$160.0 billion, and the largest current account deficit in 11-1/... Read more