Dow Futures Tick Higher After Negative Week
2022.04.11 01:46
By Oliver Gray
Investing.com – Dow futures moved slightly higher on Sunday evening after major benchmark averages finished last week lower as market participants look ahead to fresh inflation data, while monitoring the ongoing conlifct in Ukraine.
At 6:35pm E.T (10:35pm GMT) Dow Jones Futures added 0.03%, S&P 500 Futures gained 0.07% and Nasdaq 100 Futures were up 0.14%.
Investors will be paying close attention to fresh inflation data slated to be released throughout the week, with consumer price index for March due out on Tuesday and the producer price index print on Wednesday.
Later in the week, first-quarter earnings season is set to heat up with JPMorgan Chase and Delta due to report results on Wednesday morning.
During Friday’s trade, major benchmark indices finished lower as technology companies retreated amid spiking bond yields. Block Inc (NYSE:SQ) lost 2.9%, Amazon.com Inc (NASDAQ:AMZN) fell 2.1%, Alphabet Inc (NASDAQ:GOOGL) dipped 1.9% and NVIDIA Corporation (NASDAQ:NVDA) shed 4.5%.
EV manufacturers declined, with Rivian Automotive Inc (NASDAQ:RIVN) and Tesla Inc (NASDAQ:TSLA) falling 3% while Lucid Group Inc (NASDAQ:LCID) dipped 2.9%.
Financial companies provided some support with JPMorgan Chase & Co (NYSE:JPM) up 1.8%, Citizens Financial Group Inc (NYSE:CFG) adding 0.4%, Bank of America Corp (NYSE:BAC) gaining 0.7% and Citigroup Inc (NYSE:C) up 1.7%.
During last week’s trade, the tech-heavy NASDAQ Composite retreated 3.9%, while the S&P 500 and Dow Jones Industrial Average shed 1.3% and 0.3%, respectively.
On the bond markets, United States 10-Year yields hit fresh 37-month highs of 2.706%.
