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Stock futures are flat ahead of consumer confidence data

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Traders are seen working on the New York Stock Exchange’s floor on March 28, 2022, in New York City. After a strong week of stocks, the Dow Industrial Average dropped more than 100 points during morning trading.

Spencer Platt | Getty Images

Overnight trading in stock futures was flat ahead of Tuesday’s consumer confidence data. This week is a busy one for economic data.

Dow Jones Industrial Average futures dropped 20 points (0.06%) S&P 500 futures were flat, while Nasdaq 100 futures inched 0.1% lower.

Monday’s trading session saw the Dow Jones Industrial Average rise 94.65 point or 0.277%. The S&P 500 climbed 0.7%, while the Nasdaq Composite gained 1.31%.

These gains were made amid tech-heavy trading during regular trading, which was led by shares TeslaThe stock rose 8.8% after the company announced that shareholders will be asked to divide its stock in order to distribute dividends.

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In the meantime, 5-yearThe Treasury Note rose to above the 30-yearMonday marked the start of inversion since 2006. Although some fear that recession is imminent, economists are able to monitor the spread between 2-year rates and 10-year rates, which remain positive.

On Monday, oil prices fell, after having fluctuated over the past few weeks due to ongoing geopolitical tensions. Both U.S. West Texas Intermediate (WTI) crude futures and Brent crude futures slid about 7%, settling at $105.96And $112.48 per barrel, respectively. Energy stocks like ChevronTo tumble.

The ongoing conflict between Russia and Ukraine is being closely monitored by market watchers. peace talks are set to continueTurkey. Investors are watching more about the Fed. Wall Street banks pencil in half-point increases after chair Jerome PowellIt was indicated that aggressive increases are possible.

Investors await Tuesday’s release of consumer confidence data and the home price data, which will be published ahead Friday’s monthly job report. Dow Jones forecasts that economists will see an increase of 460,000 jobs in March, while the unemployment rate is expected to drop to 3.7%.

Lululemon AthleticaAnd RHEarnings will be reported after the bell on Tuesday.

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