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Stock futures inch higher as Wall Street looks to rebound from a losing week

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Traders in the NYSE Floor, April 5, 2022.

Source: NYSE

As Wall Street attempts to recover from a week of losses, stock futures rose slightly Sunday night.

Futures linked to the Dow Jones Industrial Average gained 36 points (or 0.1%) Those for the S&P 500 and Nasdaq 100 ticked up 0.1% and 0.2%, respectively.

Wall Street’s negative week is overshadowed by concerns about the tech sector. The tech-heavy Nasdaq Composite fell 3.9% last week, while the S&P 500 and Dow dropped 1.3% and 0.3%, respectively.

A bright spot was the health-care industry, which saw a rise of over 3%.

This week, the market will be driven by inflation. Investors can look forward to fresh data with the March consumer price index due out Tuesday, and the Producer price index coming Wednesday.

Loretta Meester, President of the Cleveland Fed, stated on Sunday to CBS’ Face the Nation that she believes the Fed can control inflation without major economic damage.

There is an increase in risk when you consider the economic and world events. [of recession]”Yes,” she stated. She said, “But, I am optimistic and certain that my mod forecast for what will happen this year” is that there will be continued expansion.

Meester stated that Covid lockdowns by China in China would “exacerbate” the supply-chain issues contributing to U.S. Inflation.

Investors also need to be aware of developments in Ukraine. Russia invaded the country, causing volatility on oil and commodity markets. This has in turn caused stock market disruptions.

This week will see the start of earnings season for the first quarter. JPMorgan Chase as well as Delta are expected to release results this Wednesday.

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