U.S. inventory futures pointed to an extension of final week’s good points, buoyed by knowledge displaying a slowing financial system that in flip may restrict the magnitude of Federal Reserve charge hikes.
What’s taking place
-
Futures on the Dow Jones Industrial Common
YM00,
+0.24%
rose 120 factors, or 0.4%, to 31607. -
Futures on the S&P 500
ES00,
+0.36%
gained 20.75 factors, or 0.5%, to 3937. -
Futures on the Nasdaq 100
YM00,
+0.24%
elevated 82.75 factors, or 0.7%, to 12223.
Final week, the S&P 500
SPX,
jumped 6% to snap a three-week dropping run. The Dow Jones Industrial Common
DJIA,
rose 5%, and the tech-heavy Nasdaq Composite
COMP,
gained 7%.
What’s driving markets
Strategists at Credit score Suisse say bond yields might have seen their peak, notably for Treasury-inflation protected securities, which in flip means the greenback
DXY,
is near its summit. They are saying their lead indicators are in keeping with 0% GDP development, as evidenced by the collapse in housing affordability, the weak spot of company confidence and the weak spot within the employment gauge of the Institute for Provide Administration manufacturing index.
JPMorgan quantitative strategist Marko Kolanovic revealed a observe saying the market may rise 7% this week, because of the want for portfolios to rebalance because the month, quarter and first half closes. That impact already performed out close to the tip of the primary quarter, and close to the tip of Might.
Group of Seven financial powers are assembly in Germany the place they anticipate to announce an settlement on a worth cap on Russian oil.
Sturdy-goods orders and pending house gross sales knowledge spotlight Monday’s financial calendar.
