Stocks may rebound following a day that saw equities decline on earnings concerns.
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Dow Jones futures were rising by 0.09%. The S&P 500 added 0.10% and the Nasdaq Composite was up 0.16%.
Stocks slipped on Thursday as the technology sector weakened over Cisco’s tepid outlook and trade turmoil escalated
The major averages touched session lows after President Donald Trump said the U.S. has been “ripped off” by China for years on trade. Fresh doubts that a summit between Trump and North Korean dictator Kim Jong Un will take place this summer also weighed on the markets.
A seven-year high in 10-year Treasury yields had investors selling interest-rate-sensitive utility, telecom and real estate stocks.
The Dow Jones Industrial Average fell 54.95 points, or 0.2%, to 24,713.98. The S&P 500 decreased 2.33 points, or 0.1%, to 2,720.13. The Nasdaq Composite declined 15.82 points, or 0.2%, to 7,382.47.
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| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 24713.98 | -54.95 | -0.22% |
| SP500 | S&P 500 | 2720.13 | -2.33 | -0.09% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7382.4726 | -15.82 | -0.21% |
Cisco, a Dow component, dropped after it reported a disappointing sales outlook. Walmart, another Dow component, fell on concern that it will struggle to compete with Amazon. The retailer declined even as it reported earnings that beat estimates.
Friday’s earnings reports include Deere & Co and Campbell Soup.
In Asia, Japan’s Nikkei finished the day up 0.4% to a 3 ½ month high. The index also rose 0.8% for the week.
China’s Shanghai Composite ended the day 1.2% higher and gained 1% for the week.
Hong Kong’s Hang Seng was higher by 0.2%.
European markets are starting the day lower.
London’s FTSE is down 0.23%, Germany’s DAX is lower by 0.11% and France’s CAC is off 0.26%.
FOX Business’ Leia Klingel contributed to this article.
