Equity futures fall after Dow loses for three consecutive weeks

The trader works on the floor of the New York Stock Exchange on August 27, 2021.

Source: NYSE

US stock futures fell overnight on Sunday after the Dow Jones Industrial Average lost for the first time in September 2020 for the third straight week.

Dow futures fell 114 points, or 0.3%. S & P 500 futures fell 0.3% and Nasdaq 100 futures fell 0.2%.

Stocks struggled in September, Seasonally weak month For the market.

The Dow completed its regular session on Friday, down 166.44 points (0.5%) to 34,584.88. The S & P 500 fell 0.9% to 4,432.99 and the Nasdaq Composite closed 0.9% at 15,043.97.

The S & P 500 recorded the highest trading volume since July 19th on Friday, more than doubling the 30-day average trading volume. Friday occurred at the same time as the expiration of stock options, index options, stock futures and index futures. This is a quarterly event known as the “Quadruple Witch”.

All three major averages are negative that month, but still below record highs by less than 3%.

The long-awaited September meeting of the Federal Reserve Board will be held this week. Federal Reserve Board Chair Jerome Powell will hold a press conference on Wednesday at the end of the two-day meeting. Investors are waiting for insights into the Fed’s shrinking monetary easing policy.

Powell said a so-called taper could occur this year, but investors are waiting for more information, especially after mixed-economic data released after Powell’s last comment.

“There are factors that build a’wall of concern'(ie China, supply chain issues, Fed policies, debt caps, infrastructure / tax bills), but the market is not so confused so far. Normal pullbacks and variability are expected, and we will take advantage of these periods as an opportunity. “

Investors are also waiting for major quarterly earnings reports this week, with Adobe, FedEx, Darden Restaurants, Nike and Costco announcing their earnings.

Equity futures fall after Dow loses for three consecutive weeks

Source link Equity futures fall after Dow loses for three consecutive weeks

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