Stock futures were low on Sunday because investors geared up for a week of corporate earnings.
The futures which were tied to Dow Jones industrial average were reduced by 56 points or 0.2%. S & P 500 futures were reduced by 0.2% and Nasdaq 100 futures were reduced lower than 0.2%.
Wall Street is in a good situation this week. Nasdaq increased 4.3% for the week, S & P 500 gained 2.5% and Dow Jones gained 1.8%.
The Federal open market committee will be meeting on Tuesday and Wednesday when the Fed is expected to increase rates by a quarter of a percentage point.
“Inflation has shocked the Fed to the upside, they need to be cautious not to inadvertently lower rates too early. Don’t buy into this gobbledygook about a couple of rate cuts being priced in December. For now, the Fed is only around to help in the very unlikely event of a crash landing,” David Zervos said.
U.S. equity futures had an open on Sunday night. The futures for the three major averages were at a loss of 0.1%.
After last week’s rally S & P, 500 increased 2.47% for the week and increased 6.2% for the month.
The Nasdaq composite increased 4.32% for the week and 11.04% for the month.
Dow Jones industrial average gained 1.81% for the week and 2.5% for the month.
- Published By Team Nation Press News