Dow Futures, Bitcoin Price Teeter as US Stock Market Digests Trump’s Shutdown Deal
The Dow and bitcoin price continue to teeter on the brink of their previous-day closes. What’s spooking traders in the US stock market? | Source: Shutterstock
The Dow Jones Industrial Average and broader US stock market teetered on the brink of their previous-day closes heading into the week’s final trading session. Wall Street continued to digest the fallout from Trump’s decision to sign a new spending bill and avoid a second government shutdown – while also declaring a national emergency to siphon funds from other departments to bolster his beloved border wall. Similarly, the bitcoin price traded within a tight window as traders waited with bated breath to see which way the cryptocurrency market would break.
Dow Futures Trade up Ahead of the Opening Bell
As of 9:02 am ET, Dow Jones Industrial Average futures had climbed 94 points or 0.37 percent, implying a jump of 85.61 points at the open. Dow futures implied a flat open for much of the pre-market session but rallied in the hour before the opening bell.
Futures tracking the Dow Jones Industrial Average implied a flat open before popping higher.
S&P 500 futures and Nasdaq futures also pointed north, with the two indices implying gains of 9.32 points and 27.58 points, respectively.
On Thursday, historically-weak retail sales data crushed a pre-bell futures rally and threw all three major US stock market indices deep into the red. The Dow fell 103.88 points or 0.41 percent to 24,439.39, while the S&P 500 dipped 7.3 points or 0.27 percent to 2,745.73. The Nasdaq, on the other hand, clawed its way back into neutral territory to close at 7,426.96 with a 0.09 percent gain.