Traders work on the floor of the New York Stock Exchange on March 13, 2025.
NYSE
Stock futures rose Friday following a losing session that dragged the S&P 500 into correction territory.
Futures tied to the S&P 500 added 0.8%, while Nasdaq-100 futures advanced 1%. Dow Jones Industrial Average futures gained 213 points, or 0.5%.
Sentiment on Wall Street got a boost Friday as it appeared a government shutdown would be avoided. Senate minority leader Chuck Schumer, D-N.Y., said he wouldn’t block a Republican government funding bill.
A 1.4% drop on Thursday dragged the S&P 500 down 10.1% from its record close notched last month, bringing it officially into a correction. This is defined as a decline of at least 10% from a recent high. The 30-stock Dow and Nasdaq Composite slid 1.3% and about 2%, respectively, in the session.
With Thursday’s decline, the Nasdaq fell further into correction territory and is now down more than 10% this year. The small cap-focused Russell 2000 has dropped around 19% from its recent high, meaning it’s closing in on a bear market, or a drawdown of 20%.
That marks another milestone in the pullback that has gripped investors over the past three weeks as President Donald Trump’s on-again-off-again tariff policy drove up uncertainty and market volatility. All three major indexes have dropped more than 4% this week.
The Dow is on track for its second straight losing week and worst weekly decline since June 2022. This would be the fourth negative week in a row for the S&P 500 and Nasdaq.
“In only a few weeks, the broader market has gone from record highs to correction territory,” said Adam Turnquist, chief technical strategist for LPL Financial. “Tariff uncertainty has captured most of the blame for the selling pressure and is exacerbating economic growth concerns.”
Consumer sentiment stats due Friday morning round out a busy week of economic data that included key inflation reports. Investors are also gearing up for the Federal Reserve policy meeting scheduled for next week, where fed funds futures are pricing in a 98% likelihood of interest rates holding steady, according to CME’s FedWatch tool.
