U.S. stock futures on Thursday were pointing to a bounce back, as key indexes remain locked in a tight range.
What’s happening
Dow Jones Industrial Average futures
YM00,
+0.65%
rose 244 points, or 0.7%, to 34239.
S&P 500 futures
ES00,
+0.76%
gained 34.75 points, or 0.8%, to 4165.
Nasdaq 100 futures
NQ00,
+1.14%
increased 149.5 points, or 1.2%, to 12695.
On Wednesday, the Dow Jones Industrial Average
DJIA,
-0.61%
fell 208 points, or 0.61%, to 33949, the S&P 500
SPX,
-1.11%
declined 46 points, or 1.11%, to 4118, and the Nasdaq Composite
COMP,
-1.68%
dropped 203 points, or 1.68%, to 11911.
What’s driving markets
The S&P 500 hasn’t gone above 4,200, or below 4,000, this month.
“It feels like the market is transitioning into a tighter range before getting new information on which to decide whether to continue to uptrend or reverse lower,” said Peter Garnry, head of equity strategy at Saxo Bank. “The signs are leaning towards a cyclical uptrend, but the signal-to-noise level remains low across many macro indicators.”
There’s another full slate of earnings including releases from PepsiCo, Hilton and Kellogg’s
There’s not much on the economic calendar besides the release of jobless claims, as traders start to look ahead of the release of consumer price index on Tuesday.
