US pre-open: Futures mixed following Thursday's heavy sell-off
By Iain Gilbert
Date: Friday 21 Feb 2025
(Sharecast News) - Wall Street futures were mixed ahead of the bell on Friday following a heavy sell-off in the previous session.
As of 1230 GMT, Dow Jones futures were down 0.11%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.04% and 0.24% firmer, respectively.
The Dow closed 450.94 points lower on Thursday amid ongoing inflationary concerns and disappointing guidance from retail giant Walmart.
Trade Nation's David Morrison said: "This has been an unusual week for markets. Equities and bonds were closed on Monday for Presidents' Day. Then the next two sessions were extremely slow, although this didn't stop the S&P 500 inching, almost unnoticed, to two successive record closes. Yesterday, things changed. All four major US stock indices sold off sharply, although they managed to recover from their lows before the close. Nevertheless, all suffered losses, this time led by the Dow.
"Giant retailer, and Dow constituent, Walmart dropped 5%. This followed a decent earnings report which beat expectations. But investors were rattled by Walmart's warning that it would not be immune from the negative effects of tariffs, should President Trump go ahead with the 25% levies threatened on Canada and Mexico."
On the macro front, S&P Global's February manufacturing PMI will be published at 1445 GMT, while January existing home sales and the University of Michigan's consumer sentiment index will follow at 1500 GMT.
In the corporate space, Dropbox shares were in the red after the cloud storage giant published its Q4 earnings overnight, while shares in fintech firm Block also headed south after its latest batch of quarterly results.
Reporting by Iain Gilbert at Sharecast.com
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