Monday, December 4, 2023
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As Wall Street Enters its Final Month and Quarter of Losing Money, Stock Futures have not Altered Much

The final trading days of what is expected to be a dismal month and quarter saw minimal movement in stock futures on Thursday.

Futures for the Dow Jones Industrial Average increased 37 points, or 0.1%. Both Nasdaq 100 and S&P 500 futures were essentially unchanged.

After providing disappointing profit expectations for the current quarter, Micron Technology saw a 4.5% decline. Following the announcement that it has entered a five-year partnership to produce content for Lululemon, Peloton Interactive’s stock increased by more than 13%.

After a choppy session on Wall Street, the moves were made. While the Dow finished 0.2% lower, the S&P 500 and Nasdaq Composite both saw gains of 0.02% and 0.2%. The session saw the 10-year U.S. Treasury yield reach a level not seen in more than 15 years, which put pressure on the stock market. The benchmark rate increased once further on Thursday, closing at about 4.64%.

The difficult trading month and quarter come to a conclusion this Friday. The Dow is expected to end the quarter 2.5% lower and the month 3.4% lower as of Wednesday’s close. The S&P 500 is anticipated to lose around 4% in the third quarter and 5.2% in the month. The Nasdaq is anticipated to lose 5% and 6.7%, respectively, for the month and quarter.

Source (CNBC)

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