Stock futures fall after Wall Street closed out August with losses

U.S. stock futures fell on Thursday morning after the major averages closed out August with losses and investors considered the Federal Reserve's fight against inflation. Dow Jones Industrial Average futures fell by 140 points, or 0.44%. S&P 500 and Nasdaq 100 futures declined 0.71% and 1.19%, respectively. Those moves follow four straight days of losses in the major averages. On the final day of August, the Dow Jones Industrial Average slid nearly 0.9%. The S&P 500 lost about 0.8%, and the Nasdaq Composite fell roughly 0.6%. The Dow closed the month down about 4.1%, while the S&P and Nasdaq recorded losses of 4.2% and 4.6%, respectively. Investors are debating whether stocks will again challenge the June lows in September, a historically poor month for markets, after weighing recent hawkish comments from Fed officials who show no signs of easing up on interest rate hikes. On Wednesday, Cleveland Federal Reserve President Loretta Mester said she expects interest rates to rise above 4% before the central bank can start pulling back. The current fed funds rate is 2.25%-2.50. "If we retest the lows, I think it happens in September," SoFi's Liz Young said Wednesday on CNBC's "Closing Bell: Overtime." However, she added, "I think in order to do so, something would have to get materially worse than it was on June 16," when stocks bottomed, such as earnings revisions that come in worse than investors are expecting.

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Dow futures sink 300 points as Friday's rout on Wall Street looks set to continue

Traders work on the floor of the New York Stock Exchange (NYSE) on August 26, 2022 in New York City. Spencer Platt | Getty Images

Stock futures fell on Sunday evening as investors tried to shake off a sharp decline in stocks at the end of last week. Futures for the Dow Jones Industrial Average slid 300 points, or about 0.93%. Those for the S&P 500 and the Nasdaq 100 dropped 1.18% and 1.6%, respectively. The moves in futures come after a brutal sell-off for Wall Street on Friday, when Federal Reserve Chairman Jerome Powell's short and blunt remarks in Jackson Hole, Wyoming, appeared to extinguish hopes of the central bank changing its aggressive course of rate hikes in the months ahead. The Dow fell 1,008 points, or just over 3%, for its worst day since May. The S&P 500 and Nasdaq Composite fell 3.4% and 3.9%, respectively, for their worst days since June. The drop erased the August gains for all three averages. "Investors again cut back on their recent Risk-On positioning, supporting our view that it is way too soon to call their recent risk appetite a more permanent stance, and now one more likely to have cost them badly," Rick Bensignor of Bensignor Investment Strategies said in a note to clients.

The coming week brings more Fed speeches, including Vice Chair Lael Brainard on Tuesday, before August's nonfarm payrolls report on Friday.

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U.S. stock futures flat after Dow, S&P 500 break three-day slide

Traders on the floor of the NYSE, August 24, 2022. Source: NYSE

U.S. stock futures were flat on Wednesday night after all three major averages ended higher during the daily trading session. Dow Jones Industrial Average futures rose by 8 points, or 0.02%. S&P 500 and Nasdaq 100 futures climbed 0.14% and 0.13%, respectively. Shares of Nvidia slid more than 2% on the heels of a quarterly report that missed Wall Street's expectations. Salesforce fell more than 4% after the company provided a disappointing forecast for fiscal 2023. Snowflake jumped 16% after posting a beat on revenue. The Dow Jones Industrial Average gained 59.64 points, or 0.18%, and the S&P 500 rose 0.29% Wednesday. For both averages, the gains snapped three-day long losing streaks. The tech-heavy Nasdaq Composite also ticked up 0.41%. The market action occurs as investors await the start of the Jackson Hole economic symposium, which begins Thursday with Federal Reserve Chair Jerome Powell scheduled to speak the following morning. Traders will be listening for more information about how the central bank will combat high inflation and if policymakers may cut rates when the current hiking cycle is over. "It's steady as it goes, it's way too early for the Fed to consider a pivot," said Jim Bianco, president of Bianco Research, on CNBC's "Fast Money." Investors are also waiting for key economic reports scheduled to come out later in the week, including jobless claims Thursday and the personal consumption expenditures Friday. The PCE report is one of the Fed's favorite inflation measures, and it could influence its actions going forward.

Peloton reports quarterly earnings Thursday before the bell, along with Gap, Dollar Tree and Dollar General. Ulta Beauty, Workday and Affirm Holdings will release their own results after markets close Thursday.

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Stock futures fall as Wall Street looks ahead to Jackson Hole

Traders on the floor of the NYSE, Aug. 9, 2022. Source: NYSE

U.S. stock futures fell on Sunday night following a halt in the summer rally last week, as fears of aggressive interest rate hikes returned to Wall Street. Dow Jones Industrial Average futures slid by 93 points, or 0.28%. S&P 500 and Nasdaq 100 futures dipped 0.35% and 0.53%, respectively. On Friday, the S&P 500 closed down 1.29%. The Dow Jones Industrial Average dropped 292 points, or 0.86%, and the Nasdaq Composite dropped 2.01%. Those moves come ahead of what could be a volatile week of trading on Wall Street. Investors are anticipating Fed Chairman Jerome Powell's latest comments on inflation at the central bank's annual Jackson Hole economic symposium. "We've written a couple of times recently about wait and see trading ahead of key events/releases... and how that can set the stage for greater volatility around the events themselves, and we may see a bit of that play out next week as investors await the symposium," read a Friday note from Susquehanna's Christopher Jacobson.

On the earnings front, traders are expecting Palo Alto Networks and Zoom Video to report results Monday after the bell.

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Dow futures are flat after Wednesday's market rally

Dow futures were flat in overnight trading on Wednesday after all the major averages posted sharp gains on the back of a better-than-expected July inflation report.

Futures tied to the Dow Jones added 0.02% or 6 points, while S&P 500 futures and Nasdaq 100 futures inched 0.07% and 0.13% lower, respectively.

Disney added 6.7% in late trading after posting stronger-than-anticipated subscriber numbers and topping earning estimates on the top and bottom lines. Shares of Sonos slumped more than 19% after missing analysts' expectations.

Wednesday's regular trading session saw all the major indexes rally, with the Dow Jones Industrial Average jumping 535.10 points, or 1.63%, to close at 33,309.51. The S&P 500 added 2.13% to 4,210.24 and hit its highest level since early May, while the Nasdaq Composite gained 2.89% to 12,854.80, its highest close since late April.

The moves came after the headline consumer price index for July came in at 8.5%, slightly cooler than the 8.7% expected by analysts surveyed by Dow Jones, and raised questions as to whether inflation has hit its peak and the Federal Reserve will need to hike rates as aggressively as anticipated when it meets next month.

Beaten-up tech shares that have borne the brunt of this year's selloff drove Wednesday's market rally as shares of Meta Platforms and Netflix jumped 5.8% and 6.2%, respectively. Battered chip names such as Nvidia and Advanced Micro Devices jumped nearly 6% and 4%, respectively.

"For today, we're rallying, and I think it's really because inflation has been such an overhang for investors and for the market," Lindsey Bell, Ally Invest's chief markets and money strategist told CNBC's "Closing Bell" on Wednesday. "And I think what investors are thinking today is maybe the peak really has been put in the past."

Earnings season continues Thursday with reports from Rivian, Warby Parker, Poshmark and more. July producer price index data is also slated for Thursday.

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