Stock futures are little changed as S&P 500 looks for second straight positive week
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Traders in New York City work at the New York Stock Exchange (NYSE), March 21-2022.
Brendan McDermid | Reuters
After a rebound session on Wall Street, U.S. stock futures saw little change on Thursday night.
Futures linked to the Dow Jones Industrial Average climbed 27 points or 0.1%. The S&P 500 futures and Nasdaq 100 futures were flat.
The move comes after a solid session for stocks on Wednesday in which the S&P rose 1.4%, the Nasdaq Composite gained 1.9% and the Dow added 349 points. These gains erased most of Tuesday’s losses.
With one trading session left in the week, the S&P 500 and Nasdaq are up 1.3% and 2.1%, respectively. Both stocks are poised for their second consecutive winning week. Dow Jones is currently down 0.1% for the week.
The S&P 500 is now up more than 8% from its recent lows earlier this month. Although there are no tangible signs that progress has been made in Ukraine, and despite last week’s Federal Reserve indications that it anticipates many more rate rises in this year’s fiscal year, Wall Street pros remain skeptical about the rebound.
Lisa Shalett (chief investment officer, Morgan Stanley Wealth Management), stated that “I believe this market has moved very far and very quickly on the assumption that the Fed understands exactly what they are doing” on “Closing Bell: Overtime.” “And I don’t believe that risk premiums can be sufficient.”
Investors will be able to access a fresh consumer sentiment reading starting March, as well as data on pending home sales from February.
Markets could be impacted by the war in Europe. President Joe Biden said at a NATO summit in BrusselsThe U.S. declared Thursday that they would respond if Russia used chemical weaponsUkraine
This report was contributed by Christopher Hayes, CNBC.
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