US pre-open: Futures little changed as traders return from Thanksgiving break

(Sharecast News) - Wall Street futures were little changed ahead of the opening bell on Friday, with stocks on track for a losing month as weakness in tech stocks weighing on the major averages. As of 1215 GMT, Dow Jones futures were up 0.11%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.10% and 0.18% higher, respectively.

The Dow closed 314.67 points higher on Wednesday, extending solid gains recorded in the previous session.

US stocks looked set to close November in the red as a pullback in AI‑linked names has driven the declines, with investors reassessing the sector's future profitability. The slide has put the Dow and the S&P 500 on course to snap six consecutive months of gains, while the Nasdaq Composite was tracking towards its first monthly loss in seven months.

Despite the downturn, some market participants remain optimistic that the recent weakness could pave the way for a year‑end rally, with investors eyeing opportunities to buy stocks that have been marked down to more attractive valuations.

Saxo's Neil Wilson said: "All the major indices are heading for a down month - the S&P 500 was down 0.4% month, the Dow Jones Industrial Average 0.29% lower and the Nasdaq Composite notching a 2.15% retreat. That's despite a hefty bounce this week as all three major indices rose for a fourth straight day on Wednesday. Volatility has cooled - the VIX has slipped back to around 17 after sitting above 25 just a week ago.

"Markets have been buoyed in recent days by a shortening in the odds for a December rate cut following some dovish remarks by Fed officials and softer economic data in the US. White House National Economic Council Director Kevin Hassett is seen as the front-runner to be the next Fed chair and could be announced before Christmas. Fed + White House in sync = 'run it hot' = lower rates, higher inflation expectations, steeper curve and equities positive in 2026. It's a lukewarm end to a volatile November but European indices are poised to eke out a fifth month of gains, which would be the best run since March 2024."

On the macro front, S&P Global's November manufacturing index was scheduled for publication at 1445 GMT, while the Institute for Supply Management's manufacturing PMI will follow at 1500 GMT.

A speech from Federal Reserve chairman Jerome Powell at 1300 GMT will also draw an amount of investor attention.

No major corporate earnings were slated for release on Friday.







Reporting by Iain Gilbert at Sharecast.com