Wall Street set for lower open after tech stocks sink


U.S. stock futures were pointing to a lower open Thursday, with losses accelerating after the government released higher than expected initial jobless claims. A renewed tech stock sell-off pushed the Dow Jones Industrial Average down nearly 2% and the S&P 500 more than 2% lower Wednesday. The Nasdaq was the big loser, plunging 3% and going back into a correction, down nearly 12% from its Sept. 2 record highs. The Dow and S&P 500 were hovering just above the correction threshold, defined by a drop of 10% or more from recent highs. (CNBC)

Shares of Apple, a Dow component and a major broader market influencer, sank nearly 4.2% on Wednesday and were under modest pressure in Thursday’s premarket trading. Apple has entered a bear market, down more than 20% from its Sept. 1 all-time high close. (CNBC)

* Cramer recommends buying Big Tech, dividend stocks into further

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Stocks sink, Dow futures shed 500+ points as September gloom continues

Stock futures sank Monday morning, following global equities lower and setting the three major indices up to extend last week’s sharp declines. The early moves lower came as concerns over stagnating coronavirus case improvement stoked fears of more lockdowns, and as political uncertainty nudged investors away from risk assets.

Dow futures sank more than 500 points, or 1.9%, Monday morning, adding to a cumulative more than 350-point slide in the index from Thursday to Friday last week. Futures on the S&P 500 were down more than 1.5% after ending last week at its lowest level in six weeks last week. As of Friday’s closing level, the S&P 500 was down more than 7% from its recent record high from Sept. 2.

“So far, the market has over-shot our expectations for a 4% to 6% haircut from recent highs on near-term extended valuations, as well as economic and Covid-19 risks. That

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