US stock futures edged higher on Thursday morning after the S&P 500 fell for a fifth straight day as Wall Street weighed the possibility of a recession.
Dow Jones Industrial Average futures added 30 points, or 0.09%. S&P 500 futures were up 0.11% and Nasdaq 100 futures were up 0.17%.
shares of rent a runway It surged more than 27% in long-term trading. The online retailer has beaten earnings expectations in the most recent quarter as shoppers opted to rent designer clothes amid rising inflation.
In Wednesday’s regular trading, the S&P 500 fell 0.19% on a five-game losing streak. The Dow Jones Industrial Average was broadly flat, up just 1.58 points. Meanwhile, the Nasdaq Composite fell 0.51%.
The Federal Reserve is expected to raise interest rates by 50 basis points next week. It’s a smaller increase than the previous four rate hikes. Still, investors are growing worried about central banks’ ability to avoid recession next year and keep inflation in check.
“We waited for earnings to fall. We waited for the CEO to acknowledge the fact that a recession was likely. And here we are,” said Liz Young, head of investment strategy at Sophie. rice field. On CNBC’s “Closing Bell: Overtime.”
“I don’t know how we don’t have that. But if we get over it, I think it’s good,” Young added.
On the economic front, investors are waiting for the latest data on weekly jobless claims before Thursday’s bell. Economists surveyed by Dow Jones expect a reading of 230,000, up slightly from the previous week’s total of 225,000.
Traders expect the latest earnings results lululemon athletica, docusign, broadcom When Costco After Thursday bells.