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Dow Futures Up After 8 Weeks of Decline

Stock Markets May 22, 2022 06:50PM ET
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© Reuters.

By Oliver Gray 

Investing.com - U.S. stock futures moved higher in Sunday’s evening deals after major benchmark indices finished the week lower amid a broad market sell-off as stubbornly high inflation and tightening central bank policies soured risk appetite.

By 6:45pm ET (10:45pm GMT) Dow Jones Futures were up 0.5%, S&P 500 Futures gained 0.6% and Nasdaq 100 Futures were up 0.7%.

Investors are looking toward major retail companies as corporate earnings continue this week. Reporting companies include Costco Wholesale Corp (NASDAQ:COST), Macy’s Inc (NYSE:M), Nordstrom Inc (NYSE:JWN), Best Buy Co Inc (NYSE:BBY),  Zoom Video Communications Inc (NASDAQ:ZM) and NVIDIA Corporation (NASDAQ:NVDA).

On the data front, personal income and spending is likely point to a slowdown in both household consumption and PCE inflation while both manufacturing and services PMIs are expected to slow this month.

Meantime, investors will be hoping that Wednesday’s Fed minutes can offer insights about whether the central bank policymakers can curb the highest inflation in four decades without triggering a global recession.

Other important releases include fresh GDP estimate, corporate profits, Michigan consumer sentiment, Chicago Fed National Activity index, Richmond Fed Manufacturing Index, new and pending home sales as well as durable goods

During Friday’s regular trading session, the Dow Jones Industrial Average added 8.77 points to 31,261.9, the S&P 500 finished little changed at 3,901.36 and the NASDAQ Composite inched 0.3% lower. For the week, the Dow fell 2.8% to close at 14-month lows, posting its first eight-week losing streak since 1923. The S&P 500 dipped 2.8%, posting the worst losing streak since 2001 and the Nasdaq dipped 3.2% to finish at the lowest levels since November 2020.

Dow Futures Up After 8 Weeks of Decline
 

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By Oliver Gray  Investing.com - U.S. stock futures were trading lower during Sunday's evening deals, easing from a major rebound last week as investors monitored growing recession...

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Comments (8)
Wilks Campbell
Wilks Campbell May 23, 2022 2:17AM ET
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joke, dow, snp and nas future never mean anything. it just another gamble table, giving no extra useful info.
Don Vo
Don Vo May 22, 2022 10:11PM ET
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What’s joke, stock will crash by wall street
William Bailey
William Bailey May 22, 2022 9:27PM ET
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They were up most of jast week to numbnuts … bull trap
규현 박
규현 박 May 22, 2022 9:07PM ET
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after all, retail trader cant earn without buy the deep strategy
Nickquick Nickquick
BorgataAa May 22, 2022 9:02PM ET
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Dump the pumps. Literally stagflation at best is the outlook. We arent even at pre pandemic levels yet easy 10-15% downside to go
William Bailey
William Bailey May 22, 2022 9:02PM ET
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Oh, you under estime the fall. No Fed to the rescue like 2020 ( no more Security Backed Mortgages to buy and barely any available US treasuries!! No way to print …and inflation is caused by tbe Fed!!! Here we come real GDP (13-16 trillion) . That’s a 70 percent drop from the top!! Then depression for 5 years and GDP drops to 8-9 trillion !!!
palmer long
palmer long May 22, 2022 8:45PM ET
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plunge protection team at its best.how many times they buy the market up before US can trade For the Banksters to cover theiroptions and bets. RIGGED.GAMBLYING AT ITS BEST
William Bailey
William Bailey May 22, 2022 8:45PM ET
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No more protection … Fed out of collateral to buy from its prefered banks!! 70 percent drop by January and a great depression
mm mm
Matta1664 May 22, 2022 8:45PM ET
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William Bailey  wishing for a depression is dumb, the world can't afford one, and millions would die as a result.  The people would rise up and what you saw in France in 1789 would seem like child's play.  Then again maybe it's time to reset, god help everyone.  When people don't have money to feed their children but others can drive sports cars and big yachts triggers get pulled very fast.
Christopher Arntz
Christopher Arntz May 22, 2022 7:56PM ET
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The futures have been up like this over and over like this for months. means nothing. it's all bs. The MMs can do anything they want at any time.
Gary Moses
Gary Moses May 22, 2022 7:56PM ET
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Very true comment. Ive seen um up likd this , only to fall a few hours after the Market opens .
Kerry Ditto
Kerry Ditto May 22, 2022 7:51PM ET
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Cautiously optimistic it will be massive rally going forward.
Robert Cox
Robert Cox May 22, 2022 7:51PM ET
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We'll have to wait and see hiw things look once a market somewhere actually opens and movement is based on a handful of speculators.
 
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