December 28, 2018
U.S. stock futures pointed to a higher open on Friday for the three major indexes in the U.S., as Wall Street gets set to build on back-to-back rallies.
Dow Jones Industrial Average futures implied a gain of more than 150 points at Friday’s open, as of 7 a.m. ET. S&P 500 and Nasdaq futures also pointed to gains for the two indexes when they open.
The rise in futures comes after a wild day on Wall Street that saw stock indexes recover from steep losses to post solid gains. The Dow closed 260.37 points higher on Thursday and the S&P 500 ended the day up 0.86 percent. The Nasdaq Composite, for its part, closed 0.4 percent higher.
“We’re in the year-end period where there are a lot of folks that have stepped away from the market and therefore some significant changes in buy or sells have a more profound impact on the market,” said Gibson Smith, founder of Smith Capital Investors. “There’s another big component: A lot of focus-driven issues are being driven to a head. Some of it is on trade, some of it on the government shutdown, the Federal Reserve versus Donald Trump, they are all coming to a head at a time when there is a lot of illiquidity in the market. ”
This article was posted: Friday, December 28, 2018 at 9:30 am