Stock futures slipped on Thursday as investors awaited another key inflation report.
Futures for the Dow Jones Industrials sank 132 points, or 0.3%, to 41,261
Futures for the S&P 500 index dropped 24 points, or 0.4%, to 5,580.75
Futures for the tech-heavy NASDAQ capsized 127 points, or 0.4%, to 19,491.50.
Week to date, all three major averages are on pace for steep declines. The S&P 500 and NASDAQ are on track for losses of about 3%. The Dow is off 3.4% in the period, heading for its worst week since March 2023. The broad market index briefly dipped into correction territory on Tuesday, down 10% from a record set in February.
Beleaguered tech stocks caught a bid Wednesday as investors snapped up shares, lifting the S&P 500 higher by 0.5%. The NASDAQ Composite also popped 1.2% thanks to gains from Nvidia and Palantir Technologies. The 30-stock Dow was an outlier, however, notching a third straight losing day and falling 0.2%.
Investors Thursday are awaiting more inflation data in the form of last month’s producer price index.
In Japan, the Nikkei 225 edged lower 0.1% Thursday, while in Hong Kong, the Hang Seng fell 0.6%.
Oil prices slid 72 cents to $67.26 U.S. a barrel.
Gold prices gained $9.90 to $2,956.70 U.S. an ounce.
