Financial News

Dow Futures Tick Higher After Indices Post Their Worst Week Since June

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U.S. stock futures were trading slightly higher during Sunday’s evening deals, after major benchmark indices posted their greatest weekly losses in 3 months, with investors remaining cautious amid persistent inflation fears ahead of Federal Reserve’s two-day meeting and rate decision later this week.

By 19:10 ET (23:10 GMT) Dow Jones Futures and S&P 500 Futures were up 0.2% apiece, while Nasdaq 100 Futures were flat at 11,862.7.

financial news
financial news

Ahead in the week, market participants will be closely focused on the Federal Reserve’s interest rate decision, following a hotter-than-expected CPI reading that boosted expectations for a third consecutive 0.75% rate hike, lifting Fed funds rate to a target range of 3% to 3.25%.

Investors will also be monitoring building permits and existing home sales, as well as the S&P Global Composite PMI and initial jobless claims on Thursday.

On the corporate earnings front, companies including Darden Restaurants Inc (NYSE:DRI), Costco Wholesale Corp (NASDAQ:COST), General Mills Inc (NYSE:GIS), and Lennar Corporation (NYSE:LEN) are slated to release results.

financial news
financial news

During Friday’s trade, the Dow Jones Industrial Average fell 139.4 points or 0.5% to 30,822.4, the S&P 500 dipped 28 points or 0.7% to 3,873.3, and the NASDAQ Composite lost 104 points or 0.9% to 11,448.4.

On the bond markets, United States 10-Year yields were at 3.451%.

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