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Stock Futures Are Down

The second leg of a rally at the end of the month as investors sought to offset August’s losses saw a small decline in stock futures on Wednesday following another good session.

The Dow Jones Industrial Average futures contract dropped 2 points, or 0.02%. Nasdaq 100 futures and S&P 500 futures both decreased by 0.1% and 0.2%, respectively.

The moves came after Wall Street saw its third straight profitable session, which occurred at the month’s closing. The session saw a 1.7% increase in the mostly tech-focused Nasdaq Composite. The S&P 500 increased by roughly 1.5%, marking its biggest result since June. The Dow gained almost 0.9%.

The gains on Tuesday are the result of data suggesting a potential slowdown in the economy. Underestimating the consensus forecast of 116 analysts surveyed by Dow Jones, the Conference Board’s consumer mood index came in at 106.1. The number of open positions decreased in July, according to data from the U.S. Bureau of Labour Statistics.

Source (CNBC)

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