The trader works on the New York Stock Exchange floor on February 20, 2025.
Spencer Platt | Getty Images
US stock futures changed little early on Friday after major averages were slided following massive revenue forecasts from retail giant Walmart.
Dow Jones Industrial Average Futures I slid 14 points or less than 0.1%. S&P 500 Futures Traded 0.09% lower Nasdaq-100 Futures Traded around the flatline.
During the regular session on Thursday, Dow 450.94 points, or 1.01%. S&P 500 Losing 0.43%, retreating from the most recent history, Nasdaq Composite A decrease of 0.47%. Investors pointed out the scattering of reasons behind the market’s sale in addition to Walmart6.5% DIP, including prolonged inflation concerns and stock declines Palantir.
But B. Market horrors on Thursday could have been slightly exaggerated, according to Art Hogan, chief market strategist at Riley Wealth Management. He added that Friday’s economic data release, including the latest purchasing manager index measurements and existing home sales in January, points to stocks in the direction of ending the week.
“There could be enough overall sales pressure to be driven by some margin hunters on Friday and try to curb some of the losses we saw today,” he told CNBC in an interview. “I think tomorrow will get a sense of tomorrow if investors feel that today’s move is too much, especially when PMI and existing home sales line up.”
Hogan added:
Every week, the S&P 500 is paced with a slim gain of less than 0.1%, while the Nasdaq composite is at 0.3%. The Dow is an underperformer and tracks a loss of 0.8% over that period.
