Stock futures rise Wednesday after the S&P 500, Dow slip for a second day: Live updates

A trader works at the New York Stock Exchange (NYSE) in New York City, U.S., December 4, 2023.

Brendan Mcdermid | Reuters

U.S. stock futures rose Wednesday morning after the S&P 500 and the Dow Jones Industrial Average fell for a second day.

30-Stock Dow Jones Futures rose 64 points, or 0.18%. S&P 500 futures and Nasdaq 100 Futures They added up to 0.28% and 0.42%, respectively.

cloud company Box was a notable loser in the after-hours stock, falling 12% after reporting third-quarter results that fell short of analyst expectations. MongoDB fell 5%, even as the company beat analyst estimates. On the other hand, the stock of home builders Toll Brothers gained almost 2% after beating expectations in results.

The moves came after a trading session in which both the Dow and the S&P 500 closed lower for the second consecutive day, falling 0.2% and 0.06%, respectively. He Nasdaq Composite gained 0.3% to end the day.

Despite these losses, the last five weeks of consecutive gains mean that all three stock indexes are still on track to finish the quarter and the year with big gains.

Beyond this rebound, the new year is coming as seen by Chris Senyek, chief investment strategist at Wolfe Research disappointment ahead for investors. In his base case, Senyek predicts that the S&P 500 will fall 8% by the end of 2024.

"We think the delayed impacts of the Fed's rate hikes will really start to hit the economy in the first half of next year," he said on CNBC.Closing bell: extra time".

As inflation falls, companies will lose their pricing power because they lose their ability to transmit prices to consumers, he said. Senyek also expects greater risk aversion and slower earnings growth to put additional pressure on the stock next year.

Traders will be attentive campbell soupwhich will report its quarterly earnings before the opening bell on Wednesday.

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