Dow Jones avoids a push below 40k on Friday

The downside correction in the Dow Jones continued on Friday and delivered a low at 40,203. So, despite coming close, that 40k level remained intact ahead of the weekend. The index later rebounded modestly off that low, to later close 377 points lower, at 40,287. The Dow Jones matched the Nasdaq 100 in terms of percentage losses for the 3 major indexes on Friday. The Dow and the Nasdaq 100 both handed back 0.93% on the day, compared to a loss of 0.71% for the S+P 500. Overnight the Dow Jones futures have not made up much ground and the news of Biden dropping out of the presidential race has not really impacted the opening outlook that much. It is pretty safe to say; that was always going to be the case for a while now and the announcement this weekend was pencilled in to the markets for more than a week now. So, Asian stocks are mostly in the red today and that has helped to stunt the opening outlook for the Dow. That said, the index is priced to open fractionally higher right now, currently at around 40,320