Stock market futures were little changed Thursday morning as Wall Street sought stability after the dramatic volatility of the past few days.
Futures Dow Jones Industrial Average It fell 17 points, or about 0.05%. S&P 500 Futures It fell 0.12% Nasdaq 100 Futures It rose 0.1%.
The futures move came after stocks failed to sustain early gains on Wednesday, raising concerns that the factors that sparked Monday’s sell-off may not have dissipated yet. S&P 500 It fell 0.77% Nasdaq Composite Index It fell 1.05%. 30 stocks Dow It fell about 234 points, or 0.60%.
All three averages have fallen in four of the past five sessions.
The recent spike in market volatility could be a preview of what’s to come for the rest of the year, said Joseph Ferrara, investment strategist at Gateway Investment Advisors. Economic worries, geopolitical conflicts and the looming November elections could keep investors on edge in the coming months, Ferrara told CNBC on Wednesday.
“Given all of this and more — the knowns and the unknowns — I think investors should position their portfolios, if not defensively, for increased volatility between now and the end of the year,” Ferrara said. Gateway is a subsidiary of Natixis.
Monday’s sharp stock market selloff was blamed in part on Friday’s jobs report, which showed job growth slowing. As a result, traders may be focusing more on Thursday’s weekly jobless claims figures for a possible rise in layoffs.
“I think investors are still trying to get a sense of what’s going on in the U.S. economy and what companies’ financial positions are. I think the consumer is going to drive a lot of the news between now and the end of the year,” Ferrara said.
Corporate earnings could also be a big factor in market movements on Thursday. Warner Bros. Discovery and Bumble The stocks fell in mid-day trading after reporting weak second-quarter earnings.
Companies scheduled to report earnings on Thursday morning include: Eli Lilly and Under Armour.