US stock index futures were slightly higher in Sunday night trading as the S & P 500 closed the longest. Daily losing streak From February. Concerns over slowing economic growth and rising inflation weigh heavily on the market.
Futures contracts related to the Dow Jones Industrial Average rose 91 points. S & P 500 futures rose 0.26% and Nasdaq 100 futures rose 0.24%.
All three major averages fell on Friday, the Dow and S & P recorded losses for the fifth consecutive day, and the Nasdaq Composite recorded three consecutive negative sessions.
The Dow and S & P fell 2.15% and 1.69% in the week, respectively. This was the worst average weekly performance since June. Technology-intensive Nasdaq recorded the worst week since July, down 1.61%.
The data released on Friday is Producer prices have risen The largest annual increase since the record was first held in November 2010 was 0.7% in August, 8.3% year-on-year.
The consumer price index of interest will be released on Tuesday, at which point Street will see how much of the increased costs are being passed on to consumers. Economists surveyed by FactSet expect reading to show that consumer prices have skyrocketed 5.3% at an annual pace In August. Retail sales data will be released later in the week.
Charlie Ripley, Senior Investment Strategist at Allianz Twin Investment Management, said: “”[Friday’s] Inflationary pressures appear to have not yet eased and are likely to continue to be felt by consumers in the coming months, so wholesale price data should be spectacular for the Fed. “
Since then, stocks have been under pressure August Job Report, Announced by the Ministry of Labor on September 3, missed expectations. While pandemics continue to impede economic growth, there are concerns in the market that hot inflation may encourage the Federal Reserve to take action.
“The negative impact of delta variants on periodic trading is clear,” said Jeffreys strategist. “It’s becoming increasingly clear that the impact of the Delta has delayed the Federal Reserve’s attempt to taper, as it has given big tech stocks new momentum with growth that has exceeded its value so far this quarter. I am. “
The Federal Reserve Board will launch a two-day policy meeting on September 21, where investors will look for clues about the central bank’s bond purchase program.
Despite last week’s losses, the key averages are still relatively close to their record level. The Dow is 2.87% above its all-time high and the S & P is 1.92% below its highest. Meanwhile, the Nasdaq Composite is down 1.87% from that record.
All three recorded double-digit growth this year, but the continued impact of Covid-19 could slow the pace of recovery.
“The outlook for post-pandemic economic growth has cooled in time for the fall,” Goldman Sachs said in a note to clients on Friday. “In the market, months of pricing reflect a weakening economic environment,” the company said.Last week Goldman GDP growth forecast The fourth quarter cites the impact of delta variants on consumer spending.
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Equity futures have risen slightly after Dow and S & P lost for the fifth straight day
Source link Equity futures have risen slightly after Dow and S & P lost for the fifth straight day