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Dow Futures Tick Higher After Indices Extend Rout

Published 09/26/2022, 07:30 PM
© Reuters

By Oliver Gray 

Investing.com - U.S. stock futures were trading higher during Monday’s evening deals, after major benchmark indices extended declines for the 5th consecutive session as investors continue to retreat amid higher interest rates and growing recession concerns.

By 19:20 ET (23:20 GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were trading up 0.2% apiece.

Ahead in Tuesday's session, market participants will be focused on CB consumer confidence, house price index, and durable goods orders.

Meantime, growing currency risks are further dampening risk sentiment as the US Dollar surged to fresh record highs against the Pound Sterling and to 20-year highs against the Euro following the U.S. Federal Reserve’s aggressive interest rate hikes last week.

During Monday’s regular trade, the Dow Jones Industrial Average fell 329.6 points or 1.1% to 29,260.8, falling to the lowest level since November 2020. The S&P 500 fell 38.2 points or 1% to 3,655.04 to close at its lowest levels since December 2020, while the NASDAQ Composite dipped 65 points or 0.6% to 10,802.9 and extending to 3-month lows.

On the bond markets, United States 10-Year rates were at 3.928%, slightly below fresh 12-year highs.

 

Latest comments

If you haven’t figured it out yet. I’ve written on here several times. This is the end. I’ve been trading since 1978. This is the worst most egregious self-inflicted BUBBLE I’ve ever seen in my life. 9 trillion on the balance sheet. 100 headwinds. FX headwinds. Massive quantitive tightening. Global recession/depression. One singular inflationary pressure in the 70s. I was there investing and trading. We have hundreds of inflationary pressures now. $200 a share times 13 X equals 2600 on the S&P. Next stop is 8374 for a 30 year Fibonacci chart. Everyone knew when quantitive easing started. We would have to pay the piper. We thought and it should’ve only been for a year. On top of this administration and several administrations holding interest rates at 0%. Free money all day long. many administrations. Don’t forget that. The bottom line is Mr. Piper is in the building and he’s looking to be repaid. Unless you’re 45 years old or older, you won’t understand. 0% rates fantasy land. QE Same
I think our cruddy leaders do this everytime their blunders become to vast and destructive. They do it because it makes our lives so miserable all we do is think about ourselves and our problems, instead thinking about those who ruined our lives.
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