U.S. stock futures edged higher late on Wednesday after investor concerns about a broader banking crisis led to a volatile session.
Dow Jones Industrial Average futures rose 9 points, or 0.03%. Meanwhile, S&P 500 futures rose 0.11% and Nasdaq 100 futures rose 0.35%.
During this period regular trading hoursthis Dow At one point it was down 725 points, before closing down 280.83 points, or 0.87%.this S&P 500 Index Down 0.7%, tech-heavy Nasdaq Composite Index It edged up 0.05%.
The Saudi National Bank, Credit Suisse’s largest investor, said it Unable to provide additional funds for the bank. The SNB statement sparked a broad sell-off amid fears of a crisis in the financial sector.The index pared some losses in the afternoon, following an announcement from the Swiss watchdog. Swiss National Bank to provide additional liquidity Please contact Credit Suisse if necessary.
“This definitely changes how we as investors think about the investability of financial institutions suitable for the banking sector,” said Keith Buchanan, portfolio manager at GLOBALT Investments. more forms of regulatory pressure.”
Buchanan continued, “There’s another race for safe havens, especially U.S. Treasuries. You know, there’s an opinion right now, with mixed feelings at next week’s Fed meeting, [they’ll] maybe [a] Their actions and rhetoric are less hawkish. “
Traders will be closely watching key economic data, including the latest jobless claims report. Housing starts data from the US Census Bureau is also released at 8:30AM ET.
Dollar General and Jabil are due to report earnings before the open on Thursday. FedEx will report its earnings when the market closes.