Stock futures fell in early trading on Thursday as investors digested reports on corporate profits, upgrades to the Federal Reserve and developments in the Russian-Ukrainian conflict.
Futures on the Dow Jones Industrial Average fell 161 points, or 0.46%. S&P 500 futures fell 0.5% and Nasdaq 100 futures fell 0.63%.
Many companies reported quarterly results after Wednesday’s call. DoorDash rose more than 26% in pre-marketing trading after reporting a loss, saying profits had risen, and issued optimistic recommendations. Cisco rose 3.5% after also exceeding estimates and raising recommendations, while Applied Materials added 2%.
Investors expect quarterly reports Thursday from Walmart, Airbus, Autonation and Nestle.
Weekly unemployment claim figures will also be released Thursday morning. Dow Jones estimates the initial applications for unemployment benefits will be 218,000. This will be a slight decrease from last week. The market will also see the start of housing construction and building permits, as well as the Philadelphia Fed’s manufacturing index.
The S&P 500 in the regular trading session on Wednesday closed little changed, while the Dow fell nearly 55 points and the Nasdaq Composite fell 0.1%.
The main stock averages fell to lows on Wednesday after the release minutes of the January Fed meeting.
The summary of the meeting showed that the Fed is ready to raise interest rates and reduce the balance in the near future, as investors have expected.
“It’s not the kind of vodka it could be on the market,” said Michael Schumacher, director of betting at Wells Fargo. “I think it tells us very little about Fed policy.”
Tensions on the Russian-Ukrainian border continued to affect market sentiment.
NATO officials on Wednesday accused Russia of increasing the number of troops on the Ukrainian border. American and Russian planes in the Mediterranean flew close to each other last weekend, This was reported by the Wall Street Journal Wednesday
On Thursday, Russia expressed concern over unrest in eastern Ukraine and warned that it would take time to withdraw troops from the border.