Stock futures are little changed after major averages suffer biggest weekly losses of the year
The futures of U.S. equity were higher on Monday morning after the major averages posted their biggest loss for the week.
Futures tied to the Dow Jones increased by 15 points which is 0.05%. S&P 500 futures increased 0.12%. Nasdaq futures increased 0.23%.
The major averages ended the day lower and posted the biggest declines for 2023 in the week.
The Dow decreased by 3%, S&P 500 decreased by 2.7% while Nasdaq composite decreased by 3.3% for the week.
Stocks fell on Friday and Treasury yields increased.
The rally in early 2023 seems to fade as investors absorb the minutes of the latest Fed meeting.
“As we head into a seasonally weak period, with bets rising that the Fed may go with a 50 bps increase instead of a 25 bps in March, though still a minority opinion, the short-time market risk remains to the downside despite three straight weeks of losses,” Said Louis Navellier.
In the coming week, investors will look for clues about how inflation is affecting businesses as well as consumers.
Seagen is in talks about being acquired by Pfizer.
The deal is “expected to command at a premium” above the market valuation of $30 billion.
On Sunday evening stock futures changed a little.
Dow Jones industrial decreased by 15 points which are 0.05%. The S&P 500 decreased by 0.01%. Nasdaq increased by 0.01%.
- Published By Team Nation Press News