Futures contracts tied to the major U.S. stock indexes pointed to a lower start to Friday’s session, leaving Wall Street on track for modest weekly losses.
Dow Jones Industrial Average futures fell 207 points, implying an opening loss of about 206 points. S&P 500 and Nasdaq futures also pointed to losses. Earlier on, futures had pointed to opening gains for the three indexes.
The early morning moves on Friday followed one of the week’s better days on Thursday as oil’s biggest one-day rally ever soothed investors who’d grown worried over financial and job losses in the energy sector.
Though West Texas crude futures at $25.32 per barrel is less than half the price the contracts traded at as recently as January, the one-day rally was enough to carry the major equity indexes higher.
Source : CNBC