by U.S. stock futures slipped Friday, signaling a muted end to a strong week on Wall Street as investors awaited data on how the economy performed at the start of 2021.
Futures tied to the S&P 500 fell 0.5%, indicating that the benchmark gauge may open lower after megacap technology companies pushed it to its fourth record close of the new year on Thursday. Futures for the technology-focused Nasdaq-100 index lost 0.5% and contracts tied to the Dow Jones Industrial Average declined 0.6%.
Markets appeared to be pausing after having rallied for much of January, with money managers saying there was no clear catalyst for the decline. Investors have been cheered in recent days by a solid start to earnings season, though some are concerned that high valuations in corners of the market will leave stocks vulnerable in the coming months.
With a lack of new ammunition, people are simply stopping off, said Lars Skovgaard Andersen, investment strategist at Danske Bank Wealth Management.
Investors are cautious of adding new positions ahead of the Federal Reserves decision on monetary policy and earnings from major companies including Facebook , Apple and Tesla next week, he added.
