U.S. stock market futures pushed higher on Friday, indicating Wall Street may be ready to take a breather from recent heavy selling, and buyers may step in before the weekend. There is no data on the calendar.
About three hours before the start of trading, Dow Jones Industrial Average futures were 78 points, or 0.5% higher at 14,779. S&P 500 futures rose 10.3 points, or 0.7%, to 1,594.40, and Nasdaq-100 futures rose 14.5 points, or 0.5%, to 2,894.50. Changes in futures don't always accurately predict early market moves after the opening bell.
"Traders are clearly considering the selloff to be overdone at least for now—but on the basis that there is still no clarity over the timing or speed of the tapering, there is arguably still scope for at least some short rallies on the way down," said Fawad Razaqzada, market strategist at GFT Markets, in a note. On Thursday, the S&P 500 index dropped 40.74 points, or 2.5%, to 1,588.19, its biggest decline since November 2011, while the Dow Jones Industrial Average ended down 353.87 points, or 2.3%, to 14,758.32. The Dow's loss was the biggest one-day percentage decline since Nov. 2012. READ More...
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