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Stocks - U.S. Futures Fall as Recession Fears Hit

Stock MarketsJan 11, 2019 06:42AM ET
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© Reuters.

Investing.com – U.S. futures fell on Friday as revenue forecast cuts from a number of companies and weak retail sales over the holidays threatened to derail Wall Street's five-day rally as investors fear a possible recession.

The S&P 500 futures fell 2 points or 0.11% as of 6:40 AM ET (11:40 GMT) while Dow futures lost 8 points, or 0.04%. Meanwhile tech heavy Nasdaq 100 futures decreased 13 points, or 0.20%.

Stocks had risen earlier this week on indications that the Fed could pause its stance on policy tightening and optimistic trade negotiations from the U.S. and China. But weak holiday sales from Macy’s (NYSE:M) and cuts in revenue forecasts from Apple (NASDAQ:AAPL) and American Airlines (NASDAQ:AAL), among others, could wipe out earlier gains.

Meanwhile the government shutdown has become the longest in history and 800,000 Federal workers will miss their first paycheck of the year. U.S. President Donald Trump is at a standstill with Democrats over the shutdown, as he insists that the budget must include funding to build a wall on the U.S.-Mexico border.

Anheuser Busch Inbev (NYSE:BUD) was among the top gainers in premarket trading, gaining 5.4% on news that it is issuing $15.5 billion worth of bonds with a 40-year maturity. Netflix (NASDAQ:NFLX) rose 2.4%, while Procter & Gamble Company (NYSE:PG) increased 0.4%. Apple Inc (NASDAQ:AAPL) was up 0.4% after it announced it is released three new iPhone models this year.

Elsewhere Pacific Gas & Electric (NYSE:PCG) slumped 6.9% while Frontline (NYSE:FRO) slipped 4.6% and Facebook (NASDAQ:FB) was down 0.5%. Activision Blizzard Inc (NASDAQ:ATVI) decreased 7.3% after it announced it was transferring publishing rights for its Destiny franchise to Bungie.

In economic news, the consumer price index comes out at 8:30 AM ET (13:30 GMT).

In commodities, gold futures rose 0.4% to $1,292.35 a troy ounce, while crude oil rose 0.5% to $52.89 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.2% to 94.92.

Stocks - U.S. Futures Fall as Recession Fears Hit
 

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Dusty Owen
Dusty Owen Jan 11, 2019 10:41AM ET
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So this is what the talking heads want us to think today...i thought another chinese person might have gotten arrested in canada. Recession is very possible but nothing has changed since yesterday. Not buying it.
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Eric Haley
Eric Haley Jan 11, 2019 8:28AM ET
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Fake news!? Really people? After all the negative economic data, poor earnings reports, and awful earnings forecast revisions, you still think the market is stronger? Complacency is always highest before recessions. Open your eyes folks. The recent news from Apple, Mercedes, Constellation Brands, LG, Samsung, Macy's, Target, and Kohls is true. Wake up. Stop living in denial. Ignore the warnings and you will reap what you sow.
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Ren Jack
Ren Jack Jan 11, 2019 8:19AM ET
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I saw bulls instead of bear ****fake
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John Tierney
John Tierney Jan 11, 2019 8:09AM ET
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Markets strong
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2 1
Mike McCorcle
Mike McCorcle Jan 11, 2019 8:08AM ET
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who writes this stuff? do they take bets on whose headline can drag the market?
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Alberto Maugeri
Alberto Maugeri Jan 11, 2019 7:48AM ET
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One deat recession fear and inly in us, the most healthy economy in the word!!!even china’s stocks were higher today because trade war is coming to an end. So no recession at all!!!
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Alberto Maugeri
Alberto Maugeri Jan 11, 2019 7:42AM ET
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What recession??? I see only huge profit and good earnings for q4 results. Only recession risk is the missing deal between china and us. I don’t see any other risk. Today cpi will be allignes to what forecasted
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Paul Dunne
Paul Dunne Jan 11, 2019 7:39AM ET
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How everything changes in one day! Who's manipulating the markets?
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NZbeast Hunt
NZbeast Hunt Jan 11, 2019 7:38AM ET
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The most hilarious part of this story is where they quote how much the futures actually ‘fell’ lmfao.
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ABDUL LATIFI
ABDUL LATIFI Jan 11, 2019 7:31AM ET
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All data is pointing to a recession. But dont worry the PPT will keep buying on every dip to inflate this market.
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Virender Antil
Virender Antil Jan 11, 2019 7:22AM ET
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why are you creating panic ? Do you really know how does a recession occured,?
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Ramero Nadar
Ramero Nadar Jan 11, 2019 7:09AM ET
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just one day recession fear?? come on
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