Stock futures declined on Friday, as investors navigated a volatile week following a series of fresh inflation data releases.
Futures tied to the broad market index edged up by 0.1%, while Dow Jones Industrial Average futures gained 41 points, representing a 0.1% increase. Conversely, Nasdaq-100 futures dipped by 0.1%.
Software provider Adobe witnessed an 11% decline in its stock price due to weak sales guidance, while beauty stock Ulta saw a more than 6% drop following an underwhelming full-year earnings forecast that disappointed analysts.
These movements come after a negative trading session on Wall Street, with the Dow losing over 100 points, or around 0.4%, halting a three-day winning streak. Similarly, the S&P 500 and Nasdaq both experienced declines of approximately 0.3%.
Thursday’s downturn was triggered by the producer price index for February, which surpassed economists’ expectations, leading to a spike in bond yields. The 10-year Treasury yield climbed to 4.29%, prompting concerns among investors about whether the robust economic data could deter the Federal Reserve from implementing further monetary policy easing.
Source (CNBC)
