Following the 420 point Dow plunge in the last session, U.S. equity futures are mixed while Asian stocks plunged.
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Dow Jones futures were lower by 0.12%. The S&P 500 added 0.11% and the Nasdaq Composite added 0.16%.
Stocks dove on Thursday, sending the Dow into negative territory for the year, after President Trump announced steep aluminum and steel tariffs.
The Dow closed down 420 points, or 1.68% to 24,608, the S&P 500 fell 36 points, or 1.33% to 2,677, while the Nasdaq
Declined 92 points, or 1.27% to 7,180.
On the labor front, weekly jobless claims fell to the lowest level in almost 50 years and a manufacturing report rose to a near 14-year high.
Federal Reserve Chairman Jerome Powell completed his testimony on Capitol Hill on Thursday before the Senate Banking Committee.
This week, Powell has said the U.S. economy was strong and that interest rate hikes would continue. In Thursday’s testimony he added the labor market could strengthen without triggering faster inflation.
Asian markets overnight did not take the news of tariffs being imposed on aluminum and steel imports very well.
Japan’s Nikkei fell 2.5% to 21,181 on concerns about a possible trade war. That’s the lowest close for the Nikkei since February 14th. For the week, the index was down 3.2%.
In the U.S. , the University of Michigan will release its consumer sentiment index, while retailers J. C. Penney and Footlocker report quarterly results.
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