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Equity futures will fall following a major comeback week in equities

New York Stock Exchange Floor Trader, June 15, 2022.

Source: NYSE

US stock futures fell on Sunday night following a sharp rebound last week following a sharp fall this year. Despite the bounce, Wall Street is preparing to conclude the worst first half of its stock in decades.

The Dow Jones Industrial Average futures fell 75 points (0.2%). S & P 500 futures fell 0.2% and Nasdaq 100 futures fell 0.2%.

These moves followed a major comeback week when the Dow Jones Industrial Average surged by more than 800 points (2.7%). The S & P 500 surged 3.1% and the Nasdaq Composite surged 3.3%.

These rises helped the major average post the first positive week since May. The Dow rose 5.4% last week. The S & P 500 increased 6.5% and the Nasdaq Composite Index increased 7.5%.

Market participants continued to assess whether the stock had found a bottom or was temporarily rebounding from an oversold condition.stock You can keep getting the lift In the short term this week, investors will rebalance their holdings towards the end of the quarter.

“In a sense, the stock market is likely to be in a mode of speed that goes nowhere for the foreseeable future,” Terry Sandven, chief equity strategist at US Bank Wealth Management, told CNBC on Friday.

“Inflation is hot, emotions are calming, liquidity is evaporating, earnings are a bright spot and a wildcard. So overall, this probably means it’s been flat for some time. Sandven has been added.

On the economic front, Wall Street expects the latest readings of durable consumer goods orders to come out in front of the bell on Monday.

Traders are also monitoring pending home sales reports scheduled for 10 am on Monday.

Equity futures will fall following a major comeback week in equities

Source link Equity futures will fall following a major comeback week in equities

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