Stock futures are slightly positive as investors assess risk of an economic downturn

US stock futures rose slightly on Thursday morning after a fifth consecutive day of losses for the S&P 500 as Wall Street assessed the likelihood of a recession.

Dow Jones Industrial Average futures added 30 points, or 0.09%. S&P 500 futures gained 0.11%, while Nasdaq 100 futures rose 0.17%.

Shares of Rent the track jumped more than 27% in extended trades. The online retailer exceeded revenue forecasts in its last quarter as shoppers opted to borrow designer clothes amid rising inflation.

During Wednesday’s regular session, the S&P 500 fell 0.19% in its fifth consecutive losing session. The Dow was virtually flat, adding just 1.58 points. Meanwhile, the Nasdaq Composite slipped 0.51%.

The Federal Reserve is expected to issue a 50 basis point interest rate hike next week. This is a smaller increase than the previous four rate hikes. Still, investors are increasingly worried about whether the central bank can avoid a recession next year in its bid to crush inflation.

“We’ve been waiting for earnings to fall, we’ve been waiting for CEOs to recognize the fact that a recession is more likely than not, and here we are,” Liz Young, head of investment strategy at SoFi, said Wednesday. on CNBC’s “Closing Bell: Overtime.”

“It’s hard for me to see how we wouldn’t have any. But I think it would be a good thing if we got it over with,” Young added.

On the economic front, investors await the latest data on weekly jobless claims before the bell on Thursday. Economists polled by Dow Jones forecast a reading of 230,000, up slightly from the previous week’s total of 225,000.

Traders await the most recent earnings results from Lululemon Athletica, DocuSign, Broadcom and Costco after the bell on Thursday.

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