Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 24, 2018. REUTERS/Brendan McDermid
NEW YORK (Reuters) – U.S. equity index futures were little changed at the start of weekly trading on Sunday, leaving it unclear whether Wall Street would rebound from last week’s steep sell-off or extend the slide.
S&P 500 e-mini futures ESv1 were 0.09 percent lower by 6:11 p.m. after the open of weekly trading. Nasdaq 100 Index e-mini futures NQc1 were higher by 0.05 percent.
The S&P 500 ended at its lowest level since early May on Friday and flirted with correction territory after technology and internet shares sold off further, capping another volatile week for U.S. stocks.
During Friday’s session, the benchmark S&P 500 fell more than 10 percent from its Sept. 20 record closing high, but pared losses to end above that level. A finish of 10 percent or more below its all-time closing high would confirm a correction.
The Nasdaq registered its biggest weekly drop since March 23 after confirming a correction earlier in the week.
Grim results late on Thursday from Amazon.com Inc (AMZN.O) and Alphabet Inc (GOOGL.O), two stocks that have helped power the equity markets’ decade-long bull run, sparked the day’s sell-off and overshadowed data showing the U.S. economy growing at a healthy clip.
Reporting by Chris Prentice; Editing by Peter Cooney