U.S. stock futures wilt as trading year comes to an end

by user

U.S. stock index futures wilted on Friday in what may be a fitting end to a difficult year in which both stocks and bonds slumped as the Federal Reserve jacked up interest rates.

  • Futures on the Dow Jones Industrial Average

    fell 117 points, or 0.4%, to 33258.

  • Futures on the S&P 500

    dropped 16 points, or 0.4%, to 3856.

  • Futures on the Nasdaq 100

    decreased 45.5 points, or 0.4%, to 10987.

On Thursday, the Dow Jones Industrial Average

rose 345 points, or 1.05%, to 33221, the S&P 500

increased 66 points, or 1.75%, to 3849, and the Nasdaq Composite

gained 265 points, or 2.59%, to 10478.

What’s driving markets

Ahead of the new year, there wasn’t much new information for traders to act on, other than to ponder what’s been a horrible year for investing as the Fed reacted to surging inflation.

The S&P 500 index has dropped 19% this year, and the S&P U.S. Treasury bond current 10-year index has dropped 16%.

Rarely do both stocks and bonds drop in the same year, though there was a fractional decline for Treasury bonds in 2018 when the S&P 500 fell 4%, according to NYU’s database of annual returns.

The Chicago PMI is the final data release of the year.

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