-
Premier League wedtips voor dit weekend - 9 mins ago
-
‘I don’t want to lose mum’, says 10-year-old girl in 999 call - 12 mins ago
-
Tobacco firms to pay $23.6bn in proposed Canada settlement - 20 mins ago
-
A Wounded Hezbollah Regroups With an Aim of Ending Israel’s Winning Streak - 22 mins ago
-
This rangebound precious metal is about to break out and see strong gains, says Carter Worth - 24 mins ago
-
Catterall names the world champion he wants next - 26 mins ago
-
Jersey cafe owner ‘loses £800 in foolish Oasis ticket scam’ - 30 mins ago
-
Lifeguard recounts off-duty rescue of teen lost at sea off Hawaii - 40 mins ago
-
Steelers Mike Tomlin Non-Commital About Which Quarterback Will Start Sunday - 43 mins ago
-
You're Not Paranoid. The Market Is Out to Get You. - 44 mins ago
Stock futures rise in overnight trading following the market’s losing week: Live updates
Traders on the floor of the New York Stock Exchange on Aug. 4, 2022.
Source: NYSE
Stock futures rose in overnight trading Sunday after the market suffered a down week as 2024’s rally took a breather.
Futures on the Dow Jones Industrial Average climbed 95 points. S&P 500 futures gained 0.2% and Nasdaq 100 futures advanced 0.3%.
The 30-stock Dow fell 2.3% last week, posting its worst weekly performance March 2023. The S&P 500 declined nearly 1% during the period, its biggest weekly loss since early January. The tech-heavy Nasdaq Composite dipped 0.8%, suffering its fourth negative week in five.
The market did end last week on a positive note, however, after a stronger-than-expected jobs report Friday. The surprising gain in payrolls gave investors hope that a strong economy could continue to support corporate earnings growth, even if it means higher interest rates for longer.
“Jobs and wages are rising solidly and aggregate payrolls are outpacing inflation, which will keep Americans spending in 2024 and powering the economy forward,” said Bill Adams, chief economist at Comerica Bank.
For further clarity on how successful the Federal Reserve’s fight against inflation has been, investors are eagerly waiting for readings for March consumer and producer price indexes later this week.
Economists polled by Dow Jones expect the CPI number, to be released Wednesday morning, to increase 0.3% last month and 3.5% year over year.
“The Fed seems unbothered by robust employment gains … Inflation though is a bigger issue, and it’s imperative that the Mar price data (CPI, PPI, PCE) show the disinflationary process getting back on track,” Adam Crisafulli, founder of Vital Knowledge, said in a note.
Investors are also grappling with rising bond yields and oil prices. The benchmark 10-year Treasury yield surged nearly 20 basis points to last week to about 4.4%. U.S. crude oil touched $87 amid geopolitical tensions.
Source link