S&P 500 futures slip as index heads for losing week: Live updates

S&P 500 futures inched lower Friday morning as investors wondered what’s next for the market after the postelection rally wavered.

Futures tied to the Dow Jones Industrial Average lost 191 points, or 0.44%. S&P 500 futures slipped about 0.51%, while Nasdaq 100 futures shed 0.68%.

In extended trading, Applied Materials slid more than 5% after posting weak guidance for revenue in the current quarter. Domino’s Pizza jumped more than 7% after Berkshire Hathaway announced a new stake in the pizza chain.

That action follows a losing day on Wall Street as the postelection upswing continued to show signs of fizzling. The Dow fell more than 200 points in the session, while the S&P 500 and Nasdaq Composite each slipped about 0.6%.

Stocks took a leg down in afternoon trading after Federal Reserve Chairman Jerome Powell said during an event in Dallas that the central bank wasn’t “in a hurry” to cut interest rates. That comes after the Fed cut the borrowing cost last week.

The three major indexes are also tracking to end the week lower, giving up some gains seen during last week’s climb on the back of Donald Trump’s victory in the presidential election. The Nasdaq Composite has dropped 0.9% this week, while the S&P 500 and Dow have shed 0.8% and 0.5%, respectively.

“Investors are catching their breath and evaluating whether the advance has merit,” said Sam Stovall, chief investment strategist at CFRA Research. “We really don’t see anything on the horizon right now to upend stocks, but investors are always sort of looking around to see what could cause the trend to end.”

Investors will watch Friday for economic data on retail sales, import prices and industrial production. That caps a busy week for economic data that was punctuated by releases of closely watched inflation gauges focused on consumers and producers.

On the earnings front, e-commerce giant Alibaba is due to report quarterly results on Friday.