Stock futures rise slightly as Wall Street looks to build on recent rebound
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Traders at the NYSE floor, May 17, 2022.
Source: NYSE
U.S. stock prices moved slightly higher Tuesday night as investors sought to capitalize on the solid rally.
The Dow Jones Industrial Average futures gained 49 points or 0.2%. S&P 500 futures ticked up 0.2%, while Nasdaq 100 futures pushed 0.1% higher.
Futures moved as stock markets’ recent decline appeared to be halting. This is On Tuesday, the Dow rose 431 points, or 1.3%, while the S&P 500 gained 2% and the Nasdaq Composite climbed nearly 2.8%.
Stocks have stabilized in the three most recent trading sessions despite the Dow dropping for seven weeks straight.
Last week, the S&P 500 fell to the brink of a bear market — or 20% below its record high — but the index has now gained 4% since Thursday’s close.
The Federal Reserve’s attempts to reduce price increases by raising rates has caused stock prices and other risk assets to be under pressure. There are now concerns of a possible recession. Jerome Powell, Fed chair, said Tuesday at Wall Street Journal that there was a possibility of a recession.there won’t be any hesitation“about raising rates to bring down inflation.
There are however some current economic data such as the job report. retail sales dataThe U.S. economy is still growing as of April.
Matt Stucky is a Northwestern Mutual Wealth Management senior portfolio manager. “There are two kinds of corrections: outright bear and equity market corrections.” Bear markets almost always seem to be associated with some type of recessionary macroeconomic environment or at the very least, an unavoidable one over the coming six-to-12 month forecast. We don’t believe that as we stand here right now.
The week continues to be busy for retail earnings. Target and Lowe will report results on Wednesday before the bell rings.
Investors can also expect an update on the housing market with Friday’s data regarding housing permits and housing starts.
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