Traders work on the floor of the New York Stock Exchange during morning trading on November 10, 2023 in New York City.
Miguel M. Santiago | fake images
Stock futures held near the flat line Thursday morning, following a three-day losing streak for the S&P 500 and the Dow Jones Industrial Average.
Futures linked to Dow Jones 30 Stock fell 30 points, or 0.09%. S&P 500 Futures fell by 0.03%, while Nasdaq 100 Futures rose 0.07%
In after-hours operations, online pet products retailer Tough fell nearly 11% after the company issued a weak forecast for fourth-quarter net sales. game stop lost 6% after reporting lower net sales compared to the previous year period.
The moves follow another losing session for the major averages in another sign that the late 2023 rally may be fading. He Dow and the S&P 500 closed lower for the third consecutive day, losing 0.2% and 0.4%, respectively. He Nasdaq Composite also fell by around 0.6%. All three major indices remain poised to finish the fourth quarter and calendar year higher.
"I think we're still going to see some turmoil in terms of leadership," Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, said on CNBC.Closing bell: extra time".
"One of the reasons it has been so difficult for the growth sector to give up its leadership is that expectations for economic growth are still weak," he added.
Investors have key data releases to reflect on. Private payrolls data released Wednesday showed employers added 103,000 jobs in November, below expectations.
The question is whether this week's later data release will show a similar cooling trend: On Thursday, weekly jobless claims are due before the opening bell. November nonfarm payrolls, along with wage data and the unemployment rate, will be released Friday morning.
As for earnings, Dollar General will release its quarterly results before the bell on Thursday. Lululemon and Broadcom are scheduled to report after the close.
