S&P 500 futures are flat Friday as index heads for its third-straight down week – CNBC

Inventory futures had been little modified on Friday as merchants struggled to get well among the floor misplaced within the earlier session.

Dow Jones Industrial Common futures ticked up by 14 factors, or 0.04%. S&P 500 and Nasdaq 100 futures hovered just under the flat line.

Futures oscillated within the morning after the core private consumption expenditures worth index, the Federal Reserve’s most popular gauge of inflation, got here in barely hotter than economists anticipated on a year-over-year foundation, indicating that inflation is sticking regardless of the Fed’s efforts to struggle it.

Friday’s strikes adopted one other down session for markets as December’s sell-off resumed and hopes for a Santa Claus rally light. The Dow on Thursday tumbled 348.99 factors, or 1.05%, however completed nicely off its 803-point low. The S&P 500 and Nasdaq Composite dove 1.45% and a pair of.18%, respectively.

These losses put the S&P 500 down 0.8% for the week, on tempo for its third-straight weekly decline. The Nasdaq Composite, in the meantime has misplaced 2.1% this week. The Dow has been the outperformer this week, gaining 0.3%.

Recession fears have resurged lately dashing some traders’ hope for a year-end rally and resulting in massive losses in December. Traders fear that overtightening from central banks worldwide might drive the financial system right into a downturn.

“From a broader market and financial perspective, nothing’s totally different subsequent 12 months,” Dan Greenhaus, chief strategist at Solus Different Asset Administration mentioned on CNBC’s “Closing Bell: Additional time” on Thursday, noting that questions will linger over how far the Fed will hike. “The development continues to be the development that is still in place.”

For December, the S&P 500 has misplaced greater than 6%, whereas the Dow and Nasdaq have misplaced 4.5% and eight.7%, respectively. It could be the largest month-to-month declines for the main averages since September. Shares are additionally on tempo for his or her worst annual efficiency since 2008.