Latest Post

Stock futures fell slightly after a major comeback week for stocks RBC top analyst sees comeback

US stock futures rose on Monday night after the S&P 500 moved back into bear market territory ahead of the Federal Reserve’s two-day policy meeting this week.

The Dow Jones Industrial Average futures rose 94 points, or 0.3%. S&P 500 and Nasdaq 100 futures rose 0.4% and about 0.6%, respectively.

The move follows a sharp sell-off of shares during the regular session on Wall Street. The S&P 500 fell 3.9% to its lowest level since March 2021, and fell more than 21% from its January record.

Meanwhile, the Dow fell more than 876 points, or 2.8%, about 17% below its record high. The Nasdaq Composite dropped nearly 4.7%, or more than 33%, from its November record.

CNBC’s Steve Lysman confirmed Monday that investors are preparing themselves for the prospect of a higher-than-expected interest rate hike this week. The Federal Reserve will “likely” consider a 75-basis-point increasewhich is higher than the 50-basis-point increase that many traders expected. wall street journal First reported the story.

Some investors are expecting a more harsh tone from the central bank after last week’s inflation report saw prices warmer than expected.

“I think they’re going to do 75 basis points,” Yardney Research President Ed Yardney said Monday during CNBC’s “Closing Bell.”

“I think Powell will hold his press conference on Wednesday, indicating that there is another one coming up at the July meeting and maybe another at the September meeting. I think it’s time for him … to show it. For that he is really concerned about inflation,” he continued.

Elsewhere, Oracle’s shares rose nearly 9% in extended trading after the software company informed of Increased earnings from a “large increase in demand” in its infrastructure cloud business.

Wall Street is also looking forward to the latest reading on the May Maker Price Index before the bell on Tuesday at 8:30 a.m.

Source link

Leave a Reply

Your email address will not be published.