Dow Futures Tick Lower Ahead of Public Holiday
2022.07.04 02:16
By Oliver Gray
Investing.com – U.S. stock futures were trading lower during Sunday’s evening deals, following a negative finish for major benchmark averages in the previous week as market participants remain nervous on the prospects of an economic downturn, with U.S. markets set to remain closed on Monday for a public holiday.
By 7:00pm ET (11:00pm GMT) Dow Jones Futures and S&P 500 Futures fell 0.2% apiece while Nasdaq 100 Futures eased 0.1%.
Ahead in the week, investors will be closely monitoring Friday’s nonfarm payrolls report, which is expected to show the smallest addition of jobs since April last year, while the unemployment rate is expected to come in at 3.6%.
Meantime, FOMC minutes and appearances from several Fed officials will be in the spotlight as investors attempt to gauge the size of the Fed’s next rate hike, while factory orders, ISM Non-Manufacturing PMI, JOLTs job openings, trade balance and consumer credit data will also be watched closely throughout the week.
Stocks in the past week were sharply lower as the Dow Jones Industrial Average fell 1.4%, the S&P 500 dipped 2.5% and the NASDAQ Composite shed 4.6%.
On the bond markets, United States 10-Year yields fell to 2.889% amid rising recession expectations.
