Stock Futures Signal Second Week of Tech Declines

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U.S. stock futures edged higher Friday, signaling a muted end to a week of choppy trading for the major indexes as technology stocks weighed on the market.

Futures tied to the S&P 500 rose 0.2% after the broad gauge of large-cap stocks snapped a two-day losing streak on Thursday. Muted gains at the opening bell could push the S&P 500 into positive territory for the week. Contracts for the technology-heavy Nasdaq-100 index were relatively flat.

Stocks have struggled for direction in recent sessions. Investors are weighing signals that the U.S. economy is primed for a spell of rapid growth against concerns about rising bond yields and a jump in coronavirus cases that threatens to stymie European economies.

A strengthening dollar, signs of growing strategic rivalry between the U.S. and China, strained global supply chains and the prospect of a rise in inflation have also unsettled the stock market, investors say.

“Generally things look pretty good, but it is a very unstable environment,” said Suzanne Hutchins, head of real return investments at Newton Investment Management. “There is a lot of indigestion in the market, but I don’t think it necessarily puts paid to the direction of travel.”

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