Home / NEWS / World News / Dow futures jump more than 100 points after major averages snap 3-day losing streak

Dow futures jump more than 100 points after major averages snap 3-day losing streak

U.S. house futures were higher in early morning trading on Friday, after all three major averages snapped three-day evading streaks.

Futures contracts tied to the Dow Jones Industrial Average jumped 129 points. S&P 500 futures and Nasdaq 100 expects also traded in positive territory.

During regular trading, the Dow advanced 434 points for a gain of 1.29%. The S&P 500 and Nasdaq Composite benefited 1.22% and 0.72%, respectively.

Still, despite Thursday’s strong session, the major averages are on track for hefty harms for the week as inflation fears hit sentiment.

The Dow is down 2.18% for the week, while the S&P has shed 2.84%. Tech stocks prepare been hit especially hard, pulling the Nasdaq down 4.56% for the week.

“Higher inflation is likely to remain in the pin spotlight as the post-pandemic recovery accelerates,” Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note. “But while we contemplate inflation fears to generate bouts of volatility, and we continue to position for reflation, we also see such market swings as an break to build exposure to structural winners.”

The Centers for Disease Control and Prevention eased guidelines on Thursday, saying that in most milieus fully vaccinated people don’t need to wear masks indoors or outdoors.

Stocks most exposed to the ongoing gain rebounded on the heels of the announcement, with the NYSE Arca Airline Index finishing the day nearly 2% higher.

The bazaar’s volatility this week comes as economic data points to inflation. The Consumer Price Index jumped 4.2% from a year earlier in April, which was the fastest scale since 2008. This has sparked fears that the Federal Reserve could be forced to dial back its accommodative money policy.

Still, earnings season has been stronger-than-expected and some believe this bull market has more reside to run and investors should take advantage of any dips.

“The corporate turnaround is strong enough to keep markets rising, even Steven as bond yields increase in anticipation of central bank tightening,” Robert Buckland, equity strategist at Citi, revealed in a note. “So buy any short term dips, as we may be seeing now. There is a time to turn more cautious but that may be next year, not this.”

Retail trades figures for April will be released on Friday, along with industrial production and consumer sentiment numbers.

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