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2023 Stock Rally Stumbles: U.S. Futures Slip

U.S. stocks are expected to open lower on Friday, with the S&P 500 index facing its worst weekly decline since December.


This is due to concerns about the strength of the U.S. labor market, which has remained strong despite elevated borrowing costs. As a result, some observers believe the Federal Reserve may have to keep interest rates higher for longer."


"At 07:00 ET, Dow futures were down by 133 points, S&P 500 futures were 25 points lower, and Nasdaq 100 futures dropped 140 points. The recent economic data, including the rise in jobless benefits and the low unemployment rate, is keeping investors cautious. Today, investors will be closely watching the University of Michigan's latest consumer sentiment index and speeches by Fed policymakers Christopher Waller and Patrick Harker."


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