Wall Street dipped before the opening bell today ahead of a second look at economic growth during the final three months of 2023 and more corporate financial results, the Associated Press reports. Futures for the S&P 500 lost 0.4% before markets opened, and futures for the Dow Jones Industrial Average fell about 0.3%.
Markets have been mixed this week but are still on track to end February with gains despite a growing consensus that the Federal Reserve is unlikely to cut benchmark interest rates until late spring or summer.
In premarket trading, Boston Beer shares tumbled more than 11% after the owner of Sam Adams and Truly posted a much wider fourth-quarter loss than analysts anticipated.
On the winning side was eBay, which jumped 5.3% after beating Wall Street’s fourth-quarter sales and profit targets.
In other trading, U.S. benchmark crude oil lost 79 cents to $78.08 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, shed 77 cents to $81.89 per barrel.
The U.S. dollar rose to 150.70 Japanese yen from 150.51 Japanese yen.
