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Dow Jones Industrial Average, S&P 500, and Nasdaq-100 Futures
Futures Point to a Lower Open for US Stocks
US stock futures are pointing to a lower open on Monday, following a weak jobs report that raised concerns about a potential recession. The Dow Jones Industrial Average futures are down about 400 points, or 1.2%, while the S&P 500 futures are down about 1.5% and the Nasdaq-100 futures are down about 2%. The Dow Jones Industrial Average closed at 33,869.27 on Friday, while the S&P 500 closed at 4,258.70 and the Nasdaq-100 closed at 12,854.83.
The weak jobs report, which showed that the US economy added only 261,000 jobs in October, has raised concerns about the strength of the economy and the potential for a recession. The report also showed that the unemployment rate rose to 3.7%, from 3.5% in September. The weak jobs report comes on the heels of other recent economic data that has raised concerns about a potential recession, including a decline in consumer spending and a slowdown in manufacturing activity.
The weak economic data has led to a sell-off in the stock market in recent weeks. The Dow Jones Industrial Average has fallen about 10% from its peak in early January, while the S&P 500 has fallen about 12% and the Nasdaq-100 has fallen about 15%. The sell-off in the stock market has been driven by concerns about a potential recession, as well as by rising interest rates and the ongoing war in Ukraine.
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