US stock futures fell earlier in the week as investors waited for more gains.
Investors have also taken some gains since the stock market started the year. He Nasdaq Composite has increased for the last five consecutive weeks.
Dow Jones Futures it lost 110 points, or 0.34%, on Monday. S&P 500 index fell 0.46%, while Nasdaq-100 Futures fell 0.56%.
The chief executive of Gamma Investment Consulting said earnings could fall further as the economy slows later this year, adding that there hasn’t been a recovery from a major bear market crash in 60 years.
Disney, dupontand PepsiCo It’s the big companies reporting good earnings this week. The S&P 500 earnings season is halfway over and the results are not good. fourth quarter earnings S&P 500 companies in the index fell 2.69%.
Markets should get worse ahead of Federal Reserve Chairman Jerome Powell’s speech to the Economic Club of Washington on Tuesday. Powell’s comments on disinflation sent investors rallying in stocks last week, ignoring another sharp rate hike by the central bank. There is very little economic data on Monday.
Investors appear to be looking beyond rate hikes and focusing on recent data showing slowing inflation in the hope that the economy will slip into a milder recession and earnings rebound later in the year. The S&P 500 recently formed a bullish “golden cross” pattern, hitting a 5-month high above the 4100 level last week. The Nasdaq’s 5-week winning streak is its first since November 2021.
european markets
The new trading week started negatively for European markets, as investors assessed the global economic outlook and efforts to tackle inflation.
He Stoxx 600 Pan-European The index fell 0.54% at the open, with most sectors and major stocks trading in the red. technology, retailand travel & leisure stocks led the losses, all 1.05% less, while oil & gas briefly reversed trend to gain 0.12% before settling in negative territory.
Regional markets closed higher on Friday as investors scrutinized key central bank decisions and economic data.
Data from last week, the eurozone Purchasing Managers’ Index, showed business activity in the single-currency area picked up again in January, raising hopes the bloc will avoid an imminent recession.
Last Friday’s US jobs report was much stronger than expected, with Nonfarm Payrolls rising to 517,001, well above the Dow Jones estimate of 187,001. Treasury yields rose on the news as stock futures fell.
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