S&P 500 Micro Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Friday closed down -0.84%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.17%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.74%.
Stock indexes on Friday settled moderately lower, with the S&P 500 falling to a 1-1/2 month low and the Nasdaq 100 sliding to a 1-1/4 month low. A slump in technology stocks on Friday weighed on the overall market. Also, Friday’s mixed U.S. economic data suggests the Fed will still speed up its tapering bond purchases.
Covid concerns also weighed on stocks Friday with six states reporting cases of the omicron Covid variant, and the 7-day average of new U.S. Covid infections rising to a 1-3/4 month high of 100,835 on Thursday.
U.S. stock indexes garnered some support Friday after the Senate on Thursday night passed a stopgap spending bill to avert a U.S. government shutdown.
Friday’s monthly U.S. payroll report was mixed for stocks. On the beari... Read more