Stocks hesitant after New Year dip

January 3, 2014: 6:58 AM ET
sp 500 futures 650
Click on chart to track premarkets
NEW YORK (CNNMoney)

After an exceptionally strong 2013 for stock markets, investors and traders seem to be caught in two minds at the start of the new year.

U.S. stock futures were mixed, bouncing around between small gains and losses ahead of the open Friday.

The Dow Jones industrial average fell more than 130 points, or nearly 1%, on Thursday. The S&P 500 and Nasdaq also declined by about 1% on the first trading day of 2014.

Some market experts say Thursday's fall was triggered by investors looking to lock in gains after the record-setting run in 2013.

"Market participants booked profits even in the face of decent economic data out of the U.S.," wrote ETX Capital market strategist Ishaq Siddiqi in a note.

Related: Fear & Greed Index, gets greedy

There is little in the way of U.S. economic and corporate reports scheduled for release Friday. The nation's automakers will announce their sales for December and all of 2013 throughout the day.

European markets were edging higher in morning trading. France's CAC 40 was up by roughly 0.5%.

Major Asian markets ended in the red, with Hong Kong's Hang Seng dropping by 2.2%.

Markets in Shanghai and Tokyo were closed for an extended new year break.

Join the Conversation
Markets
Sponsored by
Index Last Change % Change
Dow 16,493.37 -69.93 -0.42%
Nasdaq 4,352.64 -17.13 -0.39%
S&P 500 1,925.15 -5.52 -0.29%
Treasuries 2.50 -0.05 -2.00%
Data as of 9:31pm ET
Company Price Change % Change
Bank of America Corp... 14.98 -0.27 -1.77%
Apple Inc 96.13 0.53 0.55%
Facebook Inc 72.37 -0.28 -0.39%
General Electric Co 25.35 0.20 0.80%
Ford Motor Co 16.81 -0.21 -1.23%
Data as of 4:00pm ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.29%4.32%
15 yr fixed3.26%3.29%
5/1 ARM3.37%3.34%
30 yr refi4.26%4.29%
15 yr refi3.24%3.26%
View rates in your area
 
Find personalized rates:
Rate data provided
by Bankrate.com