Stock Market News: Dow, S&P 500 Set to Open Down
U.S. stock markets were set to open in the red on Thursday as investors digest more earnings reports in a quieter week for macroeconomic data.
Dow Jones Industrial Average futures were down 50 points, or 0.1%. S&P 500 futures were falling 0.2% and Nasdaq 100 futures were dropping 0.3%.
While the Dow brought its winning streak to six sessions on Wednesday, it was more mixed for the wider market with the S&P 500 finishing flat and the tech-heavy Nasdaq 100 falling.
“The pause for breath was partly due to some disappointing earnings releases, but it also comes on the back of its strongest 4-day rally since November, so it was always going to be hard to maintain that pace,” wrote Deutsche Bank analyst Jim Reid in a research note.
The market will be watching the Bank of England’s interest-rate decision on Thursday for further signs of divergence in central banks, after the Swedish Riksbank became the second central bank of a developed Western economy to cut rates in this cycle. The BOE is expected to leave leave rates unchanged at 5.25% but attention will be on whether policymakers strike a more dovish message than the Federal Reserve.
The yield on the benchmark 10-year Treasury note stood at 4.511% early on Thursday, ticking up from the previous day.