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Stock futures are flat as Wall Street tries to recover from 2-day slide

Finance
A trader walks by the New York Stock Exchange (NYSE) on the first day that traders are allowed back onto the historic floor of the exchange on May 26, 2020 in New York City.Spencer Platt | Getty ImagesU.S. stock futures were flat on Wednesday night as traders continued to weigh the prospects for a coronavirus aid deal being reached before next month's election.Dow Jones Industrial Average futures were up just 6 points. S&P 500 futures fell marginally and Nasdaq 100 futures dipped 0.1%.Treasury Secretary Steven Mnuchin said on Wednesday that reaching a coronavirus stimulus deal before the election would be difficult as Democrats and Republicans remain far apart on certain issues. His comments came after House Speaker Nancy Pelosi, D-Calif., said earlier this week that a recently propose...

Dow futures jump more than 150 points as Wall Street tries to recover after tech struggles

Finance
People walk by the New York Stock Exchange (NYSE) on May 18, 2020 in New York City.Spencer Platt | Getty ImagesU.S. stock futures rose on Sunday night after a sell-off in tech shares led to the market's first back-to-back weekly declines in months.Dow Jones Industrial Average futures traded 158 points higher, or 0.6%. The S&P 500 also climbed 0.6% and Nasdaq 100 futures were up by 0.8%. The S&P 500 fell by 2.5% last week. It was the broader-market index's worst one-week drop since June 26. That decline also marked the first time since May that the S&P 500 closed lower in two straight weeks.Those losses were driven in large part by a steep drop in tech, the best-performing market sector year to date. The S&P 500 tech sector plunged more than 4% for its biggest weekly lo...
Continued tech sell-off drags Wall Street lower

Continued tech sell-off drags Wall Street lower

Business
A sell-off in shares of US technology firms has continued for a third day, dragging down all three major American stock indexes more than 2%.Apple was the biggest loser on the Dow, falling more than 6.7%. Amazon, Facebook and Microsoft also dropped at least 4%.The falls mark a sharp downturn from gains seen earlier in 2020, which had helped US markets rebound from losses triggered by the pandemic.The gains had defied expectations.The latest dip comes as the global economy is expected to shrink by roughly 5% this year. Concerns about coronavirus continue to weigh on business activity and add to trade tensions. Sterling fallIn the UK on Tuesday, the pound fell against major currencies after the gover...
Tech stocks slide as Wall Street goes into reverse

Tech stocks slide as Wall Street goes into reverse

Business
Stocks on Wall Street went into reverse on Thursday as shares in the five biggest US companies tumbled.Companies that have powered US markets to record highs - Apple, Amazon, Alphabet, Microsoft and Facebook - fell between 4% and 8%.Analysts said fears about the economic shock of coronavirus and a possible second wave prompted the sell-off.The tech-heavy Nasdaq closed down 5%, the Dow Jones fell almost 3%, and the broad-based S&P 500 finished 3.5% off.Carmaker Tesla, whose shares have soared this year, tumbled 9% on Thursday after falling sharply in the previous two sessions. Another tech heavyweight, Nvidia, ended 9.3% down. Apple's 8% fall meant $ 150bn (£113bn) was wiped off the value of the iPhone maker.The sell-off came

Dow futures rise 100 points as Wall Street wraps up its best August in more than 30 years

Finance
Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange.Johannes Eisele | AFP | Getty ImagesU.S. stock futures rose on Sunday night as traders were set to end the market's best August performance since the 1980s.Dow Jones Industrial Average futures were up 60 points, or 0.2%. S&P 500 and Nasdaq 100 futures gained 0.1% each.The S&P 500 is up 7.2% month to date, putting the broader-market index on track for its biggest August gain since 1984. The Dow has rallied more than 8% this month and is also headed for its best August in 36 years.This month's gains have pushed the S&P 500 to record levels, officially confirming a new bull market has started. The Dow, meanwhile, erased its 2020 losses on Friday, closing the session with ...