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Dow Futures Move Lower Following Market Holiday

Published 06/20/2022, 06:42 PM
Updated 06/20/2022, 06:42 PM
© Reuters.

By Oliver Gray - U.S. stock futures eased in overnight trading Monday, with markets remaining closed for a public holiday after suffering heavy losses in the previous week as investors braced for further tightening of monetary policies from the U.S. Federal Reserve and rising chances of an economic downturn.

By 06:40 p.m. ET (2240 GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were each trading 0.1% lower.

Ahead in the week, market participants will be closely following Fed Chair Jerome Powell’s testimony before Congress Wednesday and Thursday. In addition, new home sales data is slated for release on Tuesday, while existing home sales is due Thursday alongside preliminary services and manufacturing PMI prints.

Last week, the Dow Jones Industrial Average slid 4.8%, the S&P 500 dropped 5.8%, posting its biggest weekly loss since March 2020 and the NASDAQ Composite slipped 4.8%, down 33% from its record high.

Meanwhile, cryptocurrencies recovered slightly after Bitcoin fell to a new 2022 low over the weekend.

Latest comments

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The Dow futures are up 500 points from Friday's close. I d9nt understand why you are reporting that they are down.
Sorry guys there will be a boom crash bang at wall street this week, greed and fear you know! Beware it can be VERY UGLY this week!
And it can be very rewarding. Your comments are without merit and are just as likely a fairy tale as not.
What more direction does the market need to go up? Any ideas here? If the fed takes this agressive stance wont inflation get under control??
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