The American stock exchanges are heading for a flat opening on Friday, after the price thump on Thursday. Futures on the leading S & P 500 index recorded 0.1 percent in red more than half an hour before the opening bell, while the Nasdaq seems to be preparing for a small plus.
As a result, the US stock markets seem to continue the downward trend, following the hefty losses on Thursday, after rising bond rates triggered a sharp sell-out, particularly in the technology sector.
“The market is nervous. Rising bond rates are putting stocks, especially growth stocks, under pressure,” said Sebastien Galy of Nordea Asset Management.
“The fundamental image is robust and even more robust than before the coronavirus vaccine was introduced,” said market analyst Wei Li of BlackRock. “Once interest rates stabilize, risky assets can still do well,” Wei Li thinks.
The United States last night carried out air strikes on Iranian targets in Syria. In the attack, according to the Pentagon, in retaliation for a rocket attack in Iraq earlier in February in which a contractor was killed and one U.s. soldier were injured. In addition, the US is expected to publish a report today stating that Saudi Crown Prince Mohammed Bin Salman has agreed to assassinate journalist Jamal Khashoggi, says SEB.
On the macroeconomic level, vooreurs was known that personal income increased by as much as 10 percent in January, while personal income increased by 2.4 percent. These increases were also more or less anticipated.
Later in the day, the Chicago Purchasing Managers Index for February and consumer confidence in February follow.
The euro / dollar stood at 1.2115. At the start of the trading day in Europe, the coin pair was still moving at 1,2174 and at the closing of the American stock exchanges on Thursday, a stand of 1,2176 was displayed on the signs.
Oil was 2.1 percent lower.
Airbnb scored 3.8 percent higher for Stock Exchange. The online landlord of private homes recorded a higher loss in the last quarter due to the costs related to the IPO and the effects of the coronavirus pandemic on the travel sector.
Beyond Meat won 6.1 percent. The American manufacturer of meat substitutes initially dropped after publication of the quarterly figures, because they were inadequate, but the stock recovered after the company announced a three-year agreement with McDonald’s.
Bydash tripled sales in the fourth quarter of 2020, but warns of a slowdown in growth in 2021. In the coming months, Doash expects results to be affected by new rules in the US, which should provide better conditions for meal delivery. The roll-out of vaccines will also lead to a decreasing demand, according to Dodash. The stock is likely to fall 10 percent.
Nikola recorded a lower-than-expected adjusted loss in the last quarter and said it would re-focus on its”core business”. The share was 1.1 percent lower for stock exchanges.
HP Inc. performed better than expected in the last quarter. The stock rose 2.1 percent for Stock Exchange.
Tesla scored 0.3 percent higher in advance, after the electric car manufacturer reported to have interrupted production in California for two days due to a spare parts shortage, but has now resumed operations.
Boeing was planning to strengthen the protective engine covers of its 777 aircraft, months before a few serious failures. This was shown by internal documents. The share decreased for Stock Exchange 0.5 percent.
The leading S&P 500 index closed down 2.5 percent on Thursday at 3,829. 34 points. The Dow Jones index finished 1.8 percent in red at 31,402. 01 points and Technology Exchange Nasdaq dropped 3.5 percent to 13,119.43 points.