Nasdaq futures rise as benchmark tries to rebound from worst day since 2022: Live updates

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 14, 2024. REUTERS/Brendan McDermid

Nasdaq 100 futures advanced on Thursday morning, as technology shares looked to rebound after the Nasdaq Composite’s worst session since 2022.

Futures tied to the Nasdaq 100 climbed 0.8%, while S&P 500 futures advanced 0.3%. Dow Jones Industrial Average futures slipped 101 points, or 0.2%.

Discover Financial popped 3% after its second-quarter results topped expectations. Beyond Meat tumbled about 12.5% after The Wall Street Journal reported, citing people familiar, that the meat substitute company is meeting with bondholders to begin discussions about restructuring its balance sheet.

Those moves come after the Nasdaq Composite tumbled 2.8% in its worst day since December 2022, closing below 18,000 for the first time since July 1.Nasdaq 100 futures The S&P 500 dropped 1.4%, hurt largely by tech names in the index.

However, the blue-chip Dow, which has less exposure to the tech trade than the other two indexes, outperformed. The 30-stock index gained 243.6 points, or 0.6%, closing above 41,000 for the first time ever.

Wall Street has been dumping shares of this year’s artificial intelligence plays as the growing likelihood of a September rate cut bolstered optimism in the broader market. That’s particularly helped small-cap and more cyclical names, which are seen as beneficiaries a lower borrowing costs. Read more

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