YELP - Wall Street Stares At Weaker Open On Rate Anxiety Hopes For Better Earnings: Analyst Pencils Key S&P 500 Support Level | Benzinga

Trading in U.S. index futures suggests stocks may be off to a lackluster start again on Thursday. Much of the negativity in the recent session was triggered by the lack of clarity on the Federal Reserve’s rate trajectory. The spotlight is likely to be on another slew of earnings reports and a Fed speech scheduled for the day. While bullish analysts would like to focus on the resilience shown by the market amid the uncertainty, others warn of a challenging outlook following the breakdown of the broader uptrend in early April.

Cues From Previous Session:

Rate worries amid a lack of clarity from Fed speeches and some negative earnings reports weighed down on the major indices on Wednesday. After starting the day lower, the averages cut their losses substantially by late-morning trading.

Aided by a rally in the shares of Amgen, Inc. (NASDAQ:AMGN) and Boeing Co. (NYSE:BA) and some healthcare and financial stocks, the Dow Jones Industrial Average hovered mostly above the unchanged line thereafter. The 30-stock blue-chip average ended higher for a sixth straight session.

The Nasdaq Composite and the S&P 500 Index spent a better part of the session below the unchanged line, closing modestly lower for the day.

Insights From Analysts:

An economist said there would likely be risks from the drying up of personal savings. LPL Chief Economist Jeffrey Roach said consumers have been drawing down excess savings since mid-2021, with the excess savings drying up as of March. “Throughout the more recent spending splurge, households drew ...

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