US pre-open: Futures in the green after heavy losses in previous session
By Iain Gilbert
Date: Friday 17 Jun 2022
(Sharecast News) - Wall Street futures were in the green ahead of the bell on Friday despite fears of a potential economic slowdown continuing to weigh on sentiment.
As of 1200 BST, Dow Jones futures were up 0.72%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.89% and 1.10% firmer, respectively.
The Dow closed 741.46 points lower on Thursday after rate hikes from the Federal Reserve, Swiss National Bank, and the Bank of England.
The blue-chip Dow Jones slipped below 30,000 for the first time in almost 18 months, with the average on track for its 11th negative week in the last 12, while the S&P 500 was down 6% week-on-week for its worst weekly performance since March 2020.
Also in focus, the yield on the benchmark 10-year Treasury note was trading higher at 3.242% ahead of the bell, while the two-year note was hot on its heels at 3.188%.
On the macro front, Federal Reserve chairman Jerome Powell will deliver a speech at 1345 BST, while industrial production figures for May will follow at 1415 BST and the Conference Board's leading index for last month will be published at 1500 BST.
No major corporate earnings were slated for release on Friday.
Reporting by Iain Gilbert at Sharecast.com
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