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US stocks could extend the rebound seen late last Friday

Following the volatility seen in recent sessions, stocks may move upwards in early Monday trading. Major index futures are currently marketDow futures are up 299 points.

Traders may expect to extend the recovery seen later in the trading session last Friday and pick up stocks at reduced levels.

The S & P 500 was well below its worst level, dropping more than 20% from its record high in January and then ending the day almost flat. This is seen as a sign of a bear market.

It could also be motivated to buy in response to news that Shanghai’s financial hub has lifted some of the COVID-19 restrictions and U.S. President Joe Biden is considering reducing tariffs on Chinese goods. ..

“I’m considering it. We didn’t impose any of those tariffs. They were imposed by the previous administration and are under consideration,” Biden said.

However, traders are looking forward to the latest Federal Reserve Board minutes and reports on new home sales, consumer durables orders, and personal income and spending, so overall trading activity is somewhat It may be suppressed.

Among the individual stocks, VMWare (VMW) stocks surged in pre-market transactions following reports that cloud computing companies are in talks to be acquired by chip maker Broadcom (AVGO). I am.

Motorola Solutions (MSI), a telecommunications equipment and software company, may also be in its infancy after Morgan Stanley upgrades its stock rating from equal weight to overweight.

Meanwhile, HP Inc. (HPQ) shares could decline after Citi downgrades computer and printer manufacturers from buy to neutral.

During Friday’s trading, stocks experienced another very volatile session, with key averages again showing sharp fluctuations as the day progressed.

The key average retreated sharply after failing to maintain a fast-rising move, but staged a significant recovery attempt to enter the end.

After plunging more than 600 points at the worst level, the Dow rose by 8.77 points or less than a tenth percent to 31,261.90.

The S & P 500 was also almost flat, rising 0.57 points (less than a tenth percent) to 3,901.36 and Nasdaq rising 33.88 points (0.3%) to 11,354.62.

All major averages recorded a sharp loss for the week, primarily reflecting Wednesday’s selling. The Nasdaq rose 3.8% and the S & P 500 and Dow fell 3% and 2.9%, respectively.

In overseas trading, the stock market in the Asia-Pacific region fluctuated in the trading on Monday. Japan’s Nikkei 225 index rose 1%, while Hong Kong’s Hang Seng index fell 1.2%.

Meanwhile, all major European markets moved upwards that day. France’s CAC 40 index rose 0.2%, Germany’s DAX index rose 0.9%, and the UK’s FTSE 100 index rose 1.2%.

In commodity trading, crude oil futures rose from $ 0.39 to $ 110.28 last Friday and then rose from $ 0.99 to $ 111.27. Meanwhile, gold futures have risen from $ 18.60 to $ 1,860.10 per ounce after rising from $ 0.90 to $ 1,842.10 per ounce in the previous session.

On the currency side, the US dollar is trading at 127.71 yen, compared to 127.88 yen acquired at the end of the New York stock exchange on Friday. The dollar is trading at $ 1.0654 against the euro, compared to $ 1.0564 last Friday.

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US stocks could extend the rebound seen late last Friday

Source link US stocks could extend the rebound seen late last Friday

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