Equity futures fall after Dow’s 600-point comeback

Stock futures fell overnight on Monday as the market struggled to maintain a comeback rally following a few weeks of losses.

The Dow Jones Industrial Average futures fell 110 points, or 0.34%. S & P 500 futures fell 0.69% and Nasdaq 100 futures fell 1.33%.

Zoom video Equities surged 6% in expansion trading after sharing strong guidance in the second quarter Snapshare plummeted by more than 28% As the company said We are warning of a slowdown in hiring as we fail to meet our earnings and earnings targets for the quarter.

The move came when the S & P 500 temporarily fell into a bear market territory on a daytime basis as the market recovered from last week’s sharp market sellouts, when the Dow recorded its first eight weeks of losing streak since 1923. happened.

Stock prices rose as the Dow plunged 618 points (nearly 2%) following a week-long plunge during a regular trading session on Monday. The S & P 500 rose 1.9% and the Nasdaq Composite index rose 1.6%.

With this move, investors wondered if the bounce could be maintained or if it was yet another minor bailout rally in a relentless sellout that hadn’t bottomed out yet.

“This kind of environment with very high ups and downs with whipped saws is a trading environment that can always feel like it was wrong yesterday, and it’s ripe for mistakes,” said Liz Young, head of investment strategy at Sophie. He told CNBC’s “Closing Bell: Overtime”.

Bank stocks contributed to the profits on Monday led by JP Morgan. 6.2% surge after the company announced that it would reach its key goals sooner than expected With the help of the rate of increase. VMware’s share price soared nearly 25% in the next news. Broadcom is reportedly in talks to acquire a Clouder service provider..

The market rebound on Monday was widespread, with 11 financially-led sectors positive. The sector added 3.23% and saw the best day since March 9th.

Investors are looking forward to a speech from New Home Sales and Federal Reserve Chairman Jerome Powell at the US India Corporate Development Summit on Tuesday. Nordstrom, Best Buy and Ralph Lauren will also report revenue.

Equity futures fall after Dow’s 600-point comeback

Source link Equity futures fall after Dow’s 600-point comeback

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