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🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data
Dow futures tick lower after 4th week of gains
© Reuters.
By Oliver Gray
Investing.com - U.S. stock futures were trading in a tight range during Sunday’s evening deals, after major benchmark averages extended gains for the 4th consecutive week to finish near 8-month highs as speculation of smaller rate hikes from the Federal Reserve boosted risk sentiment.
By 18:40 ET (23:40 GMT) Dow Jones Futures were down 0.1% while S&P 500 Futures and Nasdaq 100 Futures declined 0.2% apiece.
Ahead in the week, market participants will be looking toward Monday’s S&P global composite, Markit Services and ISM Non-Manufacturing PMIs, and October’s Factory orders. Import and Export data comes in on Tuesday, quarterly Nonfarm Productivity on Wednesday, jobless claims on Thursday, as well as PPI and Michigan consumer sentiment prints set for release on Friday.
On the earnings front, results from companies including Costco Wholesale Corp (NASDAQ:COST), AutoZone Inc (NYSE:AZO), and Broadcom Inc (NASDAQ:AVGO) will be monitored throughout the week.
During Friday’s trade, the Dow Jones Industrial Average added roughly 35 points, or was 0.1% higher. The S&P 500 declined 0.1%, while the NASDAQ Composite dipped 0.2%. For the week, the Dow gained 0.5%, the S&P 500 lifted 1.6%, and the NASDAQ added 2.8%.
On the data front, Nonfarm Payrolls came in at 263K jobs, above expectations of 200K and signaling further normalization after protracted pandemic disruptions, while boosting bets for less aggressive rate hikes at the Federal Reserve’s December meeting.
On the bond markets, United States 10-Year rates fell to 10-week lows of 3.492%.
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