Dow Futures Micro Futures Market News and Commentary
The S&P 500 Index ($SPX) pm Friday closed down -0.48%, the Dow Jones Industrials Index ($DOWI) closed down -1.50%, and the Nasdaq 100 Index ($IUXX) closed up +0.63%.
U.S stock indexes on Friday settled mixed with the S&P 500 falling to a 3-1/2 week low and the Dow Jones Industrials falling to a 3-week low. A -3% slump in crude prices on Friday led to losses in energy stocks that weighed on the overall market. Also, a -4% plunge in silver prices and a -2.8% slump in gold prices to an 8-1/4 month low undercut mining stocks. Losses in stocks were limited Friday by mostly better-than-expected U.S.economic data.
Weakness in bank stocks weighed on the Dow Jones Industrials Index, which fell to a 3-week low Friday. Bank of America, US Bancorp, and Wells Fargo all fell more than -3% Friday. Also, a -6% drop in Salesforce.com on Friday undercut the Dow Jones Industrials after Piper Sandler cut its price target on the stock to $240 from $242 and said fiscal 2022... Read more