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Wall Street Rebounds From Thursday's Slide, Driving Narrow Gains for US Equity Futures Pre-Bell
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Wall Street Rebounds From Thursday's Slide, Driving Narrow Gains for US Equity Futures Pre-Bell
May 24, 2024 6:23 AM

09:03 AM EDT, 05/24/2024 (MT Newswires) -- US equity futures posted narrow gains Friday premarket, with investor sentiment stabilizing after Thursday's slide fueled by fears of persistent inflation and high interest rates.

Dow Jones Industrial Average futures gained 0.2%, S&P 500 futures increased 0.3%, and Nasdaq futures were up 0.3%.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $80.83 per barrel, while US West Texas Intermediate crude was down 0.6% at $76.41 per barrel.

New orders for durable goods, released at 8:30 am ET, rose by 0.7% in April following a 0.8% gain previously, compared with estimates compiled by Bloomberg for a 0.8% decline.

Consumer sentiment, due at 10 am ET, is expected at 67.4 in the final reading for May.

In other world markets, Japan's Nikkei closed 1.2% lower, Hong Kong's Hang Seng ended 1.4% lower, and China's Shanghai Composite finished 0.9% lower. Meanwhile, UK's FTSE 100 fell 0.4%, and Germany's DAX index declined 0.3% in Europe's early afternoon session.

In equities, shares of Guardant Health ( GH ) were up nearly 17% pre-bell after the company said that the US Food and Drug Administration's Medical Devices Advisory Committee has recommended approval of the company's Shield blood test for colorectal cancer screening. Hudbay Minerals ( HBM ) shares rose 1.6% after the company said it completed an upsized bought-deal equity offering.

On the losing side, Workday (WDAY) shares fell more than 10% after the company lowered its fiscal year subscription revenue guidance. Domo ( DOMO ) shares were down 13% after the company overnight reported a wider fiscal Q1 adjusted loss.

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