Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Dow Futures Up After 8 Weeks of Decline

Published 05/23/2022, 06:50 AM
Updated 05/23/2022, 06:50 AM
© Reuters.

© Reuters.

By Oliver Gray 

Investing.com - U.S. stock futures moved higher in Sunday’s evening deals after major benchmark indices finished the week lower amid a broad market sell-off as stubbornly high inflation and tightening central bank policies soured risk appetite.

By 6:45pm ET (10:45pm GMT) Dow Jones Futures were up 0.5%, S&P 500 Futures gained 0.6% and Nasdaq 100 Futures were up 0.7%.

Investors are looking toward major retail companies as corporate earnings continue this week. Reporting companies include Costco Wholesale Corp (NASDAQ:COST), Macy’s Inc (NYSE:M), Nordstrom Inc (NYSE:JWN), Best Buy Co Inc (NYSE:BBY),  Zoom Video Communications Inc (NASDAQ:ZM) and NVIDIA Corporation (NASDAQ:NVDA).

On the data front, personal income and spending is likely point to a slowdown in both household consumption and PCE inflation while both manufacturing and services PMIs are expected to slow this month.

Meantime, investors will be hoping that Wednesday’s Fed minutes can offer insights about whether the central bank policymakers can curb the highest inflation in four decades without triggering a global recession.

Other important releases include fresh GDP estimate, corporate profits, Michigan consumer sentiment, Chicago Fed National Activity index, Richmond Fed Manufacturing Index, new and pending home sales as well as durable goods

During Friday’s regular trading session, the Dow Jones Industrial Average added 8.77 points to 31,261.9, the S&P 500 finished little changed at 3,901.36 and the NASDAQ Composite inched 0.3% lower. For the week, the Dow fell 2.8% to close at 14-month lows, posting its first eight-week losing streak since 1923. The S&P 500 dipped 2.8%, posting the worst losing streak since 2001 and the Nasdaq dipped 3.2% to finish at the lowest levels since November 2020.

 

 

 

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.