Futures Little Changed as Markets Try to Recover - InvestingChannel

Futures Little Changed as Markets Try to Recover

U.S. stock futures were flat Monday, as traders tried to regain their footing following the S&P 500’s and NASDAQ Composite’s worst weekly performances in nearly two months.

Futures for the Dow Jones Industrials settled 13 points early Monday to 33,882.

Futures for the S&P 500 nosed ahead 5.25 points, or 0.1%, to 4,105.

Futures for the NASDAQ Composite hiked 53.75points, or 0.4%, to 12,400.

All three major indexes ended the week on a downturn. The Dow ended the week down 0.2%. The S&P 500 fell 1.1%, and the tech-heavy NASDAQ slid 2.4%, marking their biggest weekly losses since December.

These losses came after Federal Reserve Chairman Jerome Powell said that there is still a long way to go in the fight against inflation. Powell also noted that interest rates could rise more than markets anticipate if inflation numbers do not abate, reversing some of the prior market optimism that rate hikes would soon ease.

The final leg of earnings season also continues next week, with Coca-Cola, Marriott, Cisco, Marathon and Paramount set to report.

In Japan, the Nikkei 225 index slid 0.9%, while in Hong Kong, the Hang Seng fell 0.1%.

Oil prices slid 29 cents higher to $79.43 U.S. a barrel.

Gold prices let go of four dollars to $1,870.50 U.S. an ounce.

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