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    Equity futures flat after Nasdaq’s comeback on Monday

    US stocks were flat until Monday evening, when the main average widened its decline and Nasdaq recorded a four-day streak.

    Futures related to the Dow Jones Industrial Average fell 17 points, or 0.05%. S & P 500 futures were 0.01% lower and Nasdaq 100 futures were slightly higher.

    In normal trading, Nasdaq turned slightly green after a day of continuous declines from last week’s selling, triggered by rising bond yields and concerns about future actions by the Federal Reserve Board. rice field. It closed 0.05% higher and eliminated the 2.7% loss. Meanwhile, the Dow fell 162 points (0.4%), while the S & P 500 fell 0.1%.

    Equities continued to be under pressure as bond yields continued to rise. Monday’s 10-year Treasury yield rose to 1.8% after 1.5% at the end of 2021.

    On Monday, JP Morgan’s Marco Kolanovich said the market could withstand as high yields as Omicron and investors should buy a tech stock dip.

    “The pullback of risky assets in response to the Fed’s minutes is definitely overkill,” he said. “Policy tightening is likely to occur in a gradual and paced manner that risk assets should be able to handle, and is occurring in a strong cyclical recovery environment.”

    Jim Paulsen of Leuthold Group said this year’s stock market could face a correction, and last week’s actions may have been the beginning of the correction, but will be met by strong corporate fundamentals.

    “Historically, the stock market has suffered from some nasty’disturbances’, and many rate hikes have ultimately led to a recessionary bear market,” Paulsen said in a note on Monday evening. Stated. “But the current focus among investors may be irrelevant. The stock market reaction may be more related to the timing and number of rate hikes than to the” direction “of actual earnings. “

    The earnings season is in full swing by the end of this week and major banks will report on Friday. In the shorter term, Albertson’s will report quarterly results before the bell on Tuesday.

    Economic data, including key inflation data, is also a big week. A confirmation hearing will be held on Tuesday by Chairman Jerome Powell of the Federal Reserve Board. Kansas City Fed President Esther George, like St. Louis Fed President James Bullard, will talk about economic policy.

    Equity futures flat after Nasdaq’s comeback on Monday

    Source link Equity futures flat after Nasdaq’s comeback on Monday

    The post Equity futures flat after Nasdaq’s comeback on Monday appeared first on Eminetra.

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