RVNC - Stocks Decline Day After Fed Moves
U.S. stock futures were slightly lower on Thursday morning following a big decline in the major averages as traders weighed another large rate hike from the Federal Reserve.
Futures for the Dow Jones Industrials faded 32 points, or 0.1%, early Thursday to 30,250.
Futures for the S&P 500 gave back 6.5 points to 3,799.75
Futures for the NASDAQ Composite Index lost 37.25 points, or 0.3%. at 11,672.75.
Shares of Revance Therapeutics, a biotechnology company with a Botox competitor, rose nearly 3% in premarket trading Thursday after Goldman Sachs initiated coverage of the company with a buy rating and price target implying nearly 30% upside.
Shares of Eli Lilly rose 1.4% in premarket trading Thursday after UBS upgraded the stock to buy, citing its weight loss drug which could be “the biggest drug ever.”
On the economic front, the latest data on weekly jobless claims is expected Thursday at 8:30 a.m. ET.
In Japan, the Nikkei 225 dipped 0.6%, while in Hong Kong, the Hang Seng fell 1.6%.
Oil prices took on $1.06 to $84.00 U.S. a barrel.
Gold prices advanced $1.70 to $1,677.40 U.S. an ounce.
Stocks Decline Day After Fed Moves