Social menu is not set. You need to create menu and assign it to Social Menu on Menu Settings.

Author

Mohamed Mohamoud

Author and the owner of idman news

May 13, 2021

Idman news

Wararka Jaraaidyada Soomaalida ay qoreen

U.S. stock futures attempt to shake off COVID worries; Netflix weighs on Nasdaq


Stock-index futures were little changed Wednesday as rising COVID-19 infections around the world contribute to worries over global economic growth, while Nasdaq-100 futures saw added pressure after Netflix Inc. reported disappointing subscriber numbers.

What are major indexes doing?
  • Futures on the Dow Jones Industrial Average
    YM00,
    +0.03%

    were up 23 points, or 0.1%, at 33,726.

  • S&P 500 futures
    ES00,
    -0.01%

    edged up 1.9 points, or less than 0.1%, to 4,128.50.

  • Nasdaq-100 futures
    NQ00,
    -0.19%

    fell 17.75 points, or 0.1%, to 13,776.50.

Stocks fell for a second day Tuesday, with the Dow
DJIA,
-0.75%

shedding 256.33 points, or 0.8%. The S&P 500
SPX,
-0.68%

dropped 0.7%, while the Nasdaq Composite
COMP,
-0.92%

lost 0.9% and the small-cap Russell 2000
RUT,
-1.96%

slumped 2%.

What’s driving the market?

Stocks have seen a modest pullback after the S&P 500 and Dow ended at records on Friday, with analysts largely tying the decline to concerns about a renewed rise in COVID-19 infections around the world, particularly in India and Japan.

“Sentiment was hurt predominantly due to renewed worries over rising global COVID infections which could slow down the reopening of some economies,” said Fawad Razaqzada, market analyst at ThinkMarkets, in a note. “In the case of U.S. stocks, there was also an element of profit-taking after the major indices had reached or neared record levels with the earnings season in full swing now.”

India reported a record number of cases again on Wednesday, counting more than 200,000 for a seventh straight day. The country’s hospitals are reported to be filling rapidly, it is running out of ICU beds and running low on oxygen. 

News reports said Japanese officials were considering ordering a state of emergency for Tokyo and Osaka due to surging COVID-19 cases.

The softer tone for markets comes as earnings season moved into full swing this week. Results from Netflix Inc.
NFLX,
-0.88%

late Tuesday sent shares of the streaming giant down 8% and was seen weighing on Nasdaq-100 futures.

Therese Poletti: There is a new normal for Netflix, and that is not necessarily a bad thing

Which companies are in focus?



Market

How useful was this post?

Click on a star to rate it!

Average rating / 5. Vote count:

No votes so far! Be the first to rate this post.

Lasoco xaaladda EAST AFRICAN COUNTRIES ugu danbaysay ee Xanuunka CORONAVIRUS .