Michael Lee Strategy founder Michael Lee says expectations are low as markets ring in the new year.
U.S. equity futures traded lower the day after a late slide pulled major indexes into the red on Wall Street.
The major futures indexes suggest a decline of 0.1% when the final trading day of the year gets underway.
Equity markets will trade on a regular schedule, while the bond market will have a shortened trading session, closing at 2 p.m. ET.
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On Thursday, the S&P 500 index slipped 0.3% a day after notching a record high, closing at 4,778.73. The Dow, which also set a new high Wednesday, fell 0.2% to 36,398.08. The Nasdaq also slipped 0.2%, to 15,741.56.
Technology companies accounted for a big share of Wall Street's late-afternoon slide.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 36398.08 | -90.55 | -0.25% |
| SP500 | S&P 500 | 4778.73 | -14.33 | -0.30% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15741.564057 | -24.65 | -0.16% |
Major U.S. stock indexes are on pace to end December with solid gains, capping a banner year for the market. The S&P 500 is headed for a gain of more than 27% for 2021, the best performance since 2019, another standout year.
In Europe, London's FTSE was off 0.3% and France's CAC slipped 0.3%. Markets in Germany were closed.
In Asia, Tokyo and many other regional markets were closed.
Hong Kong jumped 1.2% in New Year’s Eve trading to 23,397.67 and the Shanghai Composite index gained 0.6% to 3,639.78.
A survey released Friday showed Chinese factory activity edged higher in December as supply disruptions eased and export demand weakened.
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Investors got a couple bits of good news. The number of Americans applying for unemployment benefits fell below 200,000, more evidence that the job market remains strong in the aftermath of last year’s coronavirus recession. Wall Street will get the December jobs report next week.
Meanwhile, the Chicago Purchasing Manager Index, a gauge of manufacturing and economic activity, came in at 63.1 for December. That's slightly better than the reading of 62.0 that economists were expecting, according to FactSet.
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In other trading, U.S. benchmark crude oil lost 56 cents to $76.43 per barrel in electronic trading on the New York Mercantile Exchange. It picked up 43 cents to $76.99 per barrel on Thursday.
The Associated Press contributed to this report.
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December 31, 2021 at 03:24PM
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Stock futures trade lower ahead of final session of 2021 - Fox Business
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