S&P 500 in line for a fractionally lower open as the prospects for Federal Reserve policy dominates investor thinking
How are stock futures trading On Thursday, the Dow Jones Industrial Average DJIA fell 340 points, or 1.02%, to 32930, the S&P 500 SPX declined 45 points, or 1.16%, to 3808, and the Nasdaq Composite COMP dropped 154 points, or 1.47%, to 10305.
The S&P 500 is down 19.4% from its 52-week high after the Fed raised interest rates by 425 basis points in 2022 in an attempt to crush inflation that hit a four-decade high of 9.1% in June. Analysts noted that the ADP private sector employment report released on Thursday was stronger than expected and had contributed to a sell-off for stocks, a move that may be repeated if the NFP also comes in hotter than forecast,
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