Sentiment continues to remain upbeat as stocks look to close out a volatile week on a positive note. The major index futures traded modestly higher in early trading, and given the absence of any major catalysts, the market could most likely consolidate its recent gains. Traders may dread to take huge positions ahead of next week’s inflation reports and retail sales data.
The CBOE Volatility Index, commonly called VIX, fell toward the 23 level, extending its slide from Thursday. The yen has strengthened slightly against the greenback, potentially stirring anxiety among traders. Bond yields are flatlining, while the rest of global markets have fed off the strength of Wall Street.
Futures
Performance (+/-)
Nasdaq 100
+0.24%
S&P 500
+0.14%
Dow
+0.03%
R2K
+0.40%
In premarket trading on Friday, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.17% to $531.54, and the Invesco QQQ ETF (NASDAQ:QQQ) rose 0.34% to $449.61, according to Benzinga Pro data.
Cues From Last Session:
U.S. stocks turned in a stellar performance on Thursday, as a report showing a bigger-than-expected decline in jobless claims, some positive earnings reports and the yen’s weakness set in motion a wave of buying in beaten-down stocks. The jobless claims data mitigated concerns regarding the weakening of the labor market and in turn, allayed recession worries.
The averages opened higher, moved roughly sideways and took a leg-up in the afternoon before moving sideways yet again. The S&P 500 ...
