U.S. stocks set for breather after 4-day rally

Thursday,   10-Jan-2019   04:59 PM (IST)

U.S. futures pointed to a lower open in what would mark the end of a four-day rally in equities. The winning streak began on Friday as Powell gave markets the impression that the Fed would pause in gradual rate hikes and was buoyed this week as optimism emerged surrounding trade negotiations between the U.S. and China. Investors were set to take profits as they await further developments in talks between the two world’s two largest economies.The blue-chip Dow futures fell 89 points, or 0.37%, S&P 500 futures lost 12 points, or 0.48%, while the Nasdaq 100 futures traded down 36 points, or 0.56%.European equities were also down on Thursday as weak earnings reports dented retailers and car stocks. The pan-European Stoxx 600 dropped around 0.2%.Asian stocks showed mixed trade although the MSCI's broadest index of Asia-Pacific shares outside Japan managed to hold slight gains, hovering near a four-week high.