LONDON: U.S. stock futures fell early Friday, but investors still eyed weekly gains as they waited for readings on consumer sentiment and wholesale prices.
S&P 500 futures ESU5, -0.45% dropped by 8.85 points, or 0.5%, to 1,940.75, while those for the Dow Jones Industrial Average YMU5, -0.37% shed 65 points, or 0.4%, to 16,241. Nasdaq 100 NQU5, -0.63% futures lost 26.75 points, or 0.6%, to 4,268.25.
“Today could however be something of a waiting game,” said Tony Cross, a market analyst for Trustnet Direct in London. Investors will take in Friday’s economic indicators, “but in all reality, these prints could end up bringing nothing new to the table in terms of how the respective central banks need to handle monetary policy.”
“Heading into the weekend break, the key question for many will remain just how the Federal Reserve will act next week,” Cross said, in a note dated Friday.
Stocks have made big swings in recent weeks partly due to uncertainty over whether the Fed will raise interest rates on Thursday next week at its two-day policy meeting.
On Thursday, the S&P 500 SPX, +0.53% and Dow DJIA, +0.47% both closed 0.5% higher. As of Thursday’s close, the S&P is up 1.6% for the holiday-shortened week, but still down 5.2% for the year.
