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.