Stocks struggle to recover from nosedive
U.S. stock-index futures rose along with global stocks early Friday, as markets struggled to shake off this week's plunge blamed on fears about rising interest rates and the impact of President Trump's trade wars on looming corporate earnings reports. On Thursday, the S&P 500 fell by 2.1 percent, its sixth straight day of losses. The Dow Jones Industrial Average also fell by 2.1 percent, and the Nasdaq Composite lost 1.3 percent.
Analysts warned that stocks could face renewed pressure if earnings season gets off to a bumpy start. "People fear that it will be harder to snap back if we're seeing a cyclical top in earnings with those two headwinds, which are not going away," Michael O'Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut, told Reuters.
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Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.
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