A trader works at the New York Stock Exchange.
New York Stock Exchange
U.S. stock index futures fell late Sunday as investors awaited important inflation data, after almost completely reversing last week’s dramatic rout in the market.
Futures linked to the Dow Jones Index The Jones Industrial Index fell 84 points, or 0.2%. S&P 500 Index Futures also fell 0.2% Nasdaq 100 Index Futures fell 0.3%.
All major stock indexes ended the week higher on Friday but stalled before getting close to a full recovery. this Dow Chemical It ended the week down 0.6%, while S&P 500 Index In the end, it fell only 0.04%, while stocks dominated by technology stocks Nasdaq Index It ended up falling 0.18%.
“Market sentiment is high and market moves tend to be clustered together, so I wouldn’t be shocked if we had another week of turmoil,” Callie Cox, chief market strategist at Ritholtz Wealth Management, told CNBC. “While the crisis is not yet a reality, People are beginning to brace for a recession. As stock market investors, fear tends to work in our favor. If economic data remains stable, interest rate sensitive industries may continue to lead the stock market with more relief rallies.
Concerns about a job market slowdown have spooked traders and shaken markets recently, with investors looking to get a better sense of the state of the economy this week. On Tuesday, they will focus on the July producer price index report, followed by the consumer price index on Wednesday for further confirmation that price growth remains stable. July retail sales data will also be released on Thursday.
“Another round of good (inflation) data may help calm concerns that the Fed may be losing the plot,” Cox said. “Investors have drawn conclusions about the economy and now they will analyze a batch of New data to determine whether the sell-off is actually justified.”
“Retail sales and retailer earnings may indicate that concerns about a job market slowdown are overblown,” she added. “So far, we haven’t seen too many alarming details about the U.S. consumer, so It’s important to consider the overall spending data rather than panic about a lukewarm jobs report.”
Home Depot will report earnings before the bell on Tuesday, and Walmart will report on Thursday.
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