Ultra T-Bond Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Friday closed up +0.01%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.03%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.34%.
U.S. stock indexes Friday settled mixed. Stock indexes Friday extended the week’s sell-off, with the S&P 500 and Dow Jones Industrials dropping to 14-1/2 month lows and the Nasdaq 100 falling to a 1-1/2 year low. The S&P 500 this week fell for the seventh consecutive week, the longest stretch of declines since 2001.
Positive comments on the U.S. economy Friday afternoon from St. Louis Fed President Bullard sparked some late short-covering in stocks.
A slump in retailer stocks this week has weighed on the overall market. Ross Stores plunged more than -22% Friday after cutting its full-year EPS forecast. Ross Stores joins Walmart and Target as key retailers this week who cut their annual earnings forecasts as rising prices eat into profits.
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