US Stocks Could Open Lower As Uncertainty Looms Ahead Of FOMC Meeting, Futures Trading Shows — FedEx, Ado – Benzinga

U.S. stocks are on track to extend their losses, with the major index futures moving sharply lower on Friday. An inflation reading due shortly after the market open may have a big say in how the market trades in the final session of the week, especially ahead of the September rate-setting of the Federal Reserve scheduled for Sept. 20-Sept. 21.
Thursday, the major U.S. plunged sharply, with technology, energy, real estate and utility stocks bearing the brunt of the selling pressure. On the other hand, healthcare and financial stocks found modest buying interest.
The selling in blue-chips stocks was not so severe as their mid- and small-cap counterparts.
The slump came amid mixed data points. Retail sales rose more than expected in August, while the results of twin manufacturing surveys showed a contraction in the sector.
Dragged by Thursday's sell-off, the S&P 500 and the Dow Industrials settled at their lowest levels in about two months, while the Nasdaq slipped to a one-week low.
Here’s a peek into index futures trading:
In premarket trading on Friday, the SPDR S&P 500 ETF Trust SPY was receding 0.88% to $385.09 and the Invesco QQQ TrustQQQ was moving down 1.09% to $287.94, according to Benzinga Pro data.

The University of Michigan is scheduled to release its preliminary consumer sentiment index for September at 10 a.m. EDT. Economists, on average, expect the index to improve to 59.6 from 58.2 in August. Traders may also keep a close eye on the one-year and five-year inflation expectations for September.
See also: These 5 Experts See A Market Crash Ahead: What Do BZ Readers Think?
Crude oil futures are staging a modest recovery after the 3.82% plunge on Thursday. Asian stocks fell across the board, led by the Chinese, Indian and Australian markets. The negative lead from Wall Street overnight proved to be the undoing of the markets in the region. The Singaporean market ended little changed with a positive bias.
European stocks are also sharply lower in late morning trading on Friday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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