Stock Groups

Stock futures are little changed ahead of a big week of economic data

[ad_1]

Traders at the NYSE floor, March 25, 2022.

Source: NYSE

Stock futures were unchanged Sunday night as investors waited for key economic reports. They also continued to monitor the Federal Reserve’s plans to raise interest rates.

The Dow Jones Industrial Average futures rose 14 points or 0.03%. S&P 500 futures added 0.06% and Nasdaq 100 futures were 0.07% higher.

The Dow and S&P rose in the previous session to close out their second consecutive winning week. Dow gained 0.4% or 153 points. The S&P 500 advanced 0.5% and has more than erased its losses since Russia invaded Ukraine in late February. The Nasdaq Composite lost 0.2% this week, but it still ended the week in green.

These moves were made as investors monitor the developments in Russia’s conflict with Ukraine and anticipate Fed’s plan to increase interest rates.

Edward Moya is a senior analyst at Oanda. “It appears that the skyrocketing rise higher with commodity prices have taken a break which has given investors an opportunity to pile back into equity,” he said. The rally in equity prices over the last two weeks has been impressive, despite the fact that geopolitical risk remains very high. Although the U.S. economy remains in good condition, traders will not be able to buy every stock market dip going forward because of how hawkish Fed is.

CNBC Pro: Find stock picks and trends in investing from CNBC Pro

The Fed continues to be closely monitored by investors. Wall Street firms, including Goldman Sachs and Bank of America drafted in half-point rises at future Fed meetings after Jerome Powell was appointed as the central bank’s chairman. vowed to be tough on inflationThese rate increases may become even more severe if needed.

Friday’s benchmark 10-year yield was 1.09% touched a fresh multi-year high of 2.5% as investors priced in a more aggressive rate hike cycle, which helped lift financial stocks while tech stocks pulled back.

Investors are looking forward to the Job Openings and Labor Turnover Survey, or JOLTS, this week. Federal Reserve monitors the JOLTS report closely for any employment data as it tightens monetary policies. ADP will also publish its private payroll data on Friday ahead of the major show, the closely viewed monthly jobs report.

Monday is considered a non-event day, but many large corporations will be reporting their quarterly results, including Walgreens Boots Alliance, Micron, BioNTech and Micron.

[ad_2]