U.S. stock futures were flat on Wednesday evening after a four-day losing streak for the S&P 500 Index (SPX) driven by a downturn in the Technology sector. Futures for the Dow Jones Industrial Average (DJIA), S&P 500, and Nasdaq 100 (NDX) all hovered near the flatline at 6:23 p.m. EDT on August 20.
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The recent market slump was led by tech giants. Amazon (AMZN), Apple (AAPL), and Alphabet (GOOGL) saw losses exceeding 1%, while Broadcom (AVGO) and Intel (INTC) declined 1.3% and 7%, respectively.
On Wednesday’s regular trading session, the S&P 500 fell 0.2% for its fourth straight loss, the Nasdaq dropped 0.7%, and the Dow rose slightly. It must be noted that all three ended the day much higher than their intraday lows.
Looking ahead, all eyes are now on key economic reports due on Thursday. These include the S&P flash manufacturing and services purchasing managers’ index reports, existing home sales data, and initial jobless claims for the week ended August 16.
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