Stock futures fall, putting the S&P 500 on track to hit a 4-week winning streak

Stock futures were lower on Friday, easing hopes that the S&P 500 could spark another positive week.

Futures for the S&P 500 fell 0.6%, while those tied to the Dow Jones Industrial Average fell 162 points, or 0.5%. Nasdaq 100 futures fell 0.8%.

For the week, the S&P 500 entered Friday’s session at just 0.08%, and the Dow rose 0.7% during that time. The tech-heavy Nasdaq came in Friday with a weekly loss of 0.6%. The S&P 500 has posted gains for the past four weeks.

While there has been relatively moderate moves on Wall Street this week, it comes on the heels of a solid rally since mid-June.

“The market is consolidating a little bit this week, a little flip-flopping. … I think this is still a healthy market,” said Frank Gretz, a technical analyst at Wellington Shields, referring to solid forward decline rates in recent weeks. .

No major economic reports coming out Friday, but traders are still reviewing some key gains. Shares of Applied Materials rose slightly in the premarket on a better-than-expected quarterly report.

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