U.S. stock futures were little changed on Wednesday evening after the S&P 500 fell for a fifth straight day as Wall Street weighed the possibility of a recession.
Dow Jones Industrial Average futures were down 2 points, or 0.01%. S&P 500 futures fell 0.01%, while Nasdaq 100 futures were flat.
shares Rent the runway Soaring more than 27% in extended trading. The online retailer topped revenue expectations in the latest quarter as shoppers opted to borrow designer clothes amid rising inflation.
During Wednesday’s regular session, the S&P 500 fell 0.19% for the fifth straight session. The Dow was little changed, gaining just 1.58 points. Meanwhile, the Nasdaq Composite fell 0.51%.
The Fed is expected to raise interest rates by 50 basis points next week. Compared with the previous four rate hikes, the increase is small. Still, investors are increasingly concerned about the central bank’s ability to avoid a recession next year to curb inflation.
“We’ve been waiting for earnings to come down, we’ve been waiting for CEOs to acknowledge the fact that a recession is more likely, and we are,” Liz Young, head of investment strategy at SoFi, said Wednesday on CNBC’s “Closing Bell.” Voice: Overtime”.
“It’s hard for me to imagine how we wouldn’t. But I think it would be a good thing if we could end it,” Young added.
On the economic front, investors were awaiting the latest data on weekly jobless claims before the market close on Thursday. Economists polled by Dow Jones expected a reading of 230,000, slightly higher than the previous week’s total of 225,000.
Traders look forward to the latest earnings results Lululemon Games, document signature, Broadcom and costco After the bell on Thursday.