Stock market today: Dow, S&P 500, Nasdaq futures point to rebound from Fed-fueled rout
Published On Dec 19, 2024, 8:43 AM
U.S. stock futures are indicating a rebound after a significant sell-off triggered by a hawkish statement from the Federal Reserve regarding its interest rate policies. Futures for the S&P 500 are up 0.5%, Nasdaq futures 0.6%, and Dow futures around 0.5% as investors react to economic reports showing a stronger-than-expected GDP growth of 3.1% for the third quarter, and a decline in weekly unemployment claims to 220,000. Despite the rebound signals, the Dow is experiencing its longest losing streak in 50 years, and its performance remains a concern for traders.
Stock Forecasts
SPY
Positive
The recent rise in futures suggests market optimism as it responds to positive economic indicators, including strong GDP growth and declining jobless claims. However, the overarching concern remains the Fed's stance on interest rates, which could dampen sentiment if further tightening is anticipated.
QQQ
Positive
The approaching rebound in futures indicates potential recovery for high-tech stocks, especially with the Nasdaq showing stronger gains. Investors may shift towards technology stocks, taking advantage of any upward movement following the sell-off.
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