Dow Futures Trade Lower After Positive Week
2022.06.27 01:52
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 fears which were accompanied by a pullback in bond yields, facilitating gains among risk-sensitive sectors. However, despite last week’s bounce, Wall Street is preparing to post the worst first half for stocks in decades.
By 6:40pm ET (10:40pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were each down 0.3%.
Ahead in the week, market participants will be closely monitoring consumer confidence, durable goods orders and personal consumption expenditure data, with the annual core PCE inflation, the Fed’s preferred inflation metric, is expected to ease for a third month to a 6-month low. Meantime, the ISM Manufacturing PMI is expected to print the slowest growth in factory activity since July 2020. Investors will also be eyeing fresh pending home sales, Chicago PMI, Dallas Fed Manufacturing Index, and final GDP growth estimates for Q1.
Last week, all major averages finished higher. The Dow Jones Industrial Average climbed 5.4% last week. The S&P 500 increased 6.5%, and the NASDAQ Composite gained 7.5%.
On the bond markets, United States 10-Year rates were at 3.138%.
