Stock futures are almost unchanged following their strongest week since June

After the closing of Friday, all three main averages recorded their best week since June, and U.S. stock futures were barely changed Monday morning.

The Dow Jones Industrial Average futures rose 4 points or 0.01%. Futures for the S&P 500 and Nasdaq 100 both rose by 0.07% and 0.16%, respectively.

The changes follow another erratic week for market prices as the third-quarter results season picks up steam. The Dow increased by more than 748 points, or 2.47%, on Friday. The Nasdaq Composite increased 2.31%, while the S&P 500 increased 2.37%. Gains from earlier in the week were increased by this. The Nasdaq surged 5.2% while the S&P 500 and Dow increased by 4.7% and 4.9%, respectively.

Stock prices have responded differently to earnings releases thus far. After releasing earnings on Friday, the stocks of Goldman Sachs and JPMorgan Chase increased by more than 4%. However, not all outcomes have been positive; Snap fell 28% after announcing a shortfall in profits.

Despite rising bond rates, stocks increased on Friday as mixed corporate earnings caused the 10-year U.S. Treasury to reach its highest level since 2008. Bond yields are price-inverse.

According to David Donabedian, a chief investment officer of CIBC Private Wealth US, in a report on Friday, "the equity market is trying to create a bottom to go to the last leg of the bear market." "Right now, it seems like a two-way market. There is a struggle going on between the doubters and the proponents of investing in stocks.

More significant earnings reports from tech behemoths like Apple, Alphabet, Amazon, and Microsoft are scheduled to be released in the upcoming week. The October purchasing managers' indexes for manufacturing and services will be revealed on Monday, and Wall Street will be keeping an eye out for further information about inflation.

Post a Comment

Previous Post Next Post

Contact Form