Traders
work
on
the
floor
at
the
New
York
Stock
Exchange
on
Dec.
7,
2023.
Brendan
Mcdermid
|
Reuters
U.S.
stock
futures
were
little
changed
Wednesday
night
after
the
Nasdaq
Composite
fell
for
a
fourth
straight
trading
day.
Dow
Jones
Industrial
Average
futures
rose
by
35
points,
or
0.09%.
S&P
500
futures
and
Nasdaq
100
futures
ticked
higher
by
0.09%
and
0.1%,
respectively.
Wall
Street
is
coming
off
a
dismal
trading
session,
with
all
three
major
averages
closing
out
Wednesday
with
losses.
The
30-stock
Dow
dropped
nearly
300
points,
or
0.8%,
while
the
S&P
500
fell
0.8%.
The
tech-heavy
Nasdaq
Composite
posted
its
fourth
straight
losing
session,
dropping
more
than
1%.
Mega-cap
tech
stocks
such
as
Apple
are
underperforming
to
start
the
year
as
overstretched
valuations
and
uncertainty
around
when
the
Federal
Reserve
will
begin
to
cut
rates
have
investors
worried
that
markets
have
gotten
overly
optimistic.
Apple
shares
are
down
more
than
4%
this
week.
In
2023,
the
S&P
500
rallied
more
than
24%,
ending
with
its
best
weekly
win
streak
going
back
to
2004.
The
Nasdaq
Composite
jumped
43%,
notching
its
best
year
since
2020.
“You’ve
got
positioning,
you’ve
got
sentiment,
all
of
that
is
pretty
stretched,”
Anastasia
Amoroso,
chief
investment
strategist
at
iCapital,
said
on
CNBC’s
“Closing
Bell”
on
Wednesday.
“And
I
think
after
this
really
strong
finish
to
the
year
that
we’ve
had,
we’re
just
due
for
some
of
the
give
back.”
On
the
economic
front,
the
December
ADP
private
payrolls
report
is
due
out
Thursday
morning.
Economists
polled
by
Dow
Jones
expect
a
rise
of
130,000
last
month,
up
from
103,000
the
prior
month.
Walgreens
Boots
Alliance
is
set
to
release
earnings
Thursday
before
the
open.
