Stock futures edged lower Monday morning as Wall Street looked to maintain momentum from Friday’s gains.
S&P 500 Index Futures down 0.15%. Nasdaq 100 Index Futures rose about 0.18%, while Dow Jones Industrial Average Futures Up 53 points, or about 0.1%.
The futures move comes after a rough week for stocks, with the major averages edging slightly higher. The S&P 500 rose 0.22% this week, the Nasdaq edged up 0.10%, and the Dow Jones rose 0.09%.
It was the fourth straight week of gains for all three averages, helped by Friday’s stronger-than-expected jobs report, which provided more support for the Federal Reserve’s view that a “soft landing” for the U.S. economy could be achieved. Following the report, the Dow closed at a record high.
“Two old adages on Wall Street: Don’t fight the trend, and don’t fight the Fed… are still two of the most powerful tools in today’s stock market,” Keith Lerner, co-chief investment officer at Truist Wealth, said in a note. Key pillars.
However, Lerner warned that the upcoming U.S. presidential election and the possibility of a so-called “October surprise” could lead to increased market volatility in the coming weeks.
Investors will pay attention to international news this week, as tensions in the Middle East remain high.
On the economic front, key releases in the week ahead include Wednesday’s Federal Reserve meeting minutes and Thursday’s consumer price index report. Earnings season is also starting to heat up, and here are the results: Delta Air Lines and JPMorgan Chase Released on Thursday and Friday respectively.
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