U.S. stock futures were little changed on Wednesday night, following Alphabet’s rally, which lifted the S&P 500 and Nasdaq Composite even as growing fears around the economy weighed on equities.
Dow Jones Industrial Average futures fell by 60 points, or 0.13%. S&P 500 futures were unchanged, while Nasdaq 100 futures fell 0.01%.
Wall Street is coming off a mixed session. The S&P 500 and the Nasdaq Composite, both benchmarks made up largely of technology companies, gained 0.51% and 1.03%, respectively. On the other hand, the blue-chip Dow, known for its greater exposure to the real economy, dipped 0.05%.
The bifurcated performance follows strong gains for Alphabet and Apple shares, which bolstered the tech sector, after the Google parent avoided a breakup in an antitrust case that had weighed on the stocks. However, any gains in the equity market were curbed by further signs of weakness in the labor market. On Wednesday, the latest job openings data showed listings fell to levels rarely seen since the height of the pandemic.
“I do expect those pressures to gain momentum over the end of this year, but I doubt we have a meaningful problem for the market rally until after the holidays,” Lauren Goodwin, chief market strategist at New York Life Investments, told CNBC’s “Closing Bell” on Wednesday.
