Stock futures slip as S&P 500 aims to snap four-week losing streak: Live updates

U.S. stock futures fell Friday morning as the S&P 500 tries to snap a 4-week losing streak caused by trade policy turmoil, recession fears and a rollover in megacap technology shares.

Futures tied to the S&P 500 were down by 1%. Dow Jones Industrial Average futures lost 380 points, or 0.9%. Nasdaq 100 futures slipped 1.2%.

The action follows a losing session for the major averages. On Thursday, the S&P 500 slipped 0.2%, while the Nasdaq Composite dropped 0.3%. The 30-stock Dow lost 11.31 points, or 0.03%.

Nevertheless, the S&P 500 is on pace for a 0.4% advance week to date, and it’s about to break a four-week losing streak. The benchmark briefly fell into correction territory at one point during the monthlong rout. It sits about 8% from its record high going into Friday, short of the 10% correction level, as it tried to mount a comeback from the turmoil.

The bulk of the market’s gains came on Wednesday when Federal Reserve policymakers kept their forecast for two rate cuts this year.

Still, the Fed also raised its inflation outlook and trimmed its economic growth expectations. The new forecast raised the specter of stagflation – a scenario of rising inflation as the economy’s growth slows. Uncertainty around President Donald Trump’s tariff policies has rattled stocks in recent weeks, and Fed Chair Jerome Powell noted that tariffs may “delay” progress on inflation.

Tariff worries are also weighing on companies, according to Michael Green, chief strategist at Simplify Asset Management. 

“Companies are increasingly citing confusion and uncertainty around their planning and capital spending and hiring decisions — and when they pause, it means that they’re slowing down,” he said. “There’s an element of that playing out in the markets.” 

FedEx shares were hurting sentiment, with shares of the bellwether transportation company down 9% in early trading Friday. FedEx cut its earnings outlook, citing “weakness and uncertainty in the U.S. industrial economy.”

Nike shares were off by 8% in premarket trading after the shoe and apparel giant said sales this quarter would miss analysts’ expectations because of tariffs and falling consumer confidence. The retailer’s comments were having knock-on effects within the sector, as shares of Foot Locker slipped more than 2% and rival Under Armour fell more than 1%.

The Dow is on track for a 1.1% gain this week, marking its best weekly performance since late January. The Nasdaq, however, is off about 0.4% in the period, heading for its fifth straight losing week and its longest stretch of weekly losses since May 2022.