The trader works on the floor of the New York Stock Exchange (NYSE) in New York, United States on Monday, August 23, 2021.
Michael Neagle | Bloomberg | Getty Images
Stock futures remained strong Sunday night as investors braced for volatility in the last week of September.
Futures contracts on the Dow Jones Industrial Average rose 20 points. The S&P 500 and Nasdaq 100 futures contracts remained almost unchanged.
Wall Street is dedicating Jet Coaster Week to a number of concerns, from the debt crisis of Chinese real estate giant Evergrande to the Federal Reserve’s signal on a rollback of financial stimulus and a crackdown on cryptocurrency from Beijing. I am about to finish. However, the big averages have managed to erase sudden losses at the start of the week and generate small profits.
The Dow Jones Industrial Average ended a week up 0.6%, breaking the three-week streak. The S&P 500 rose 0.5% this week, while the high-tech Nasdaq Composite index rose 0.02% last week.
“The stock market continues to mirror the tug-of-war between bulls and bears,” said Mark Hackett, head of investment research across the country. “The market recovery has shown that the buying and buying spirit persists.”
So far, September has lived up to the reputation of volatility and weakness, as all major averages have posted modest losses. The S&P 500 will be down 1.5%, marking the first negative month since January. Major stock indexes fell about 2%, a record since September 2. The Dow Jones is down 1.6% this month and the Nasdaq is down 1.4%.
“We will continue to be careful for now, especially during the weaker seasons (late September to mid-October),” Raymond James CIO Larry Adam said in a note. “But given the continued strong economic growth, our bias is to retain existing equity exposures or opportunistically add weaknesses. “
Investors are watching Washington’s progress as lawmakers seek to thwart the possibility of government shutdowns, U.S. defaults and the collapse of President Joe Biden’s sweeping economic agenda.
House Speaker Nancy Pelosi expects a $ 1 trillion bipartisan infrastructure bill to pass this week on Sunday, but said the vote on the bill could be postponed compared to the original Monday schedule. paddy field.
Congress is due to pass a new budget by the end of September to avoid closures, and lawmakers have also found ways to raise or suspend debt ceilings in October before the United States defaults on the first time. Must be.
Elsewhere, Bitcoin fell around 2% to $ 43,454 after falling 5% on Friday. The sale came after China’s central bank declared all cryptocurrency-related activities illegal.
Futures contracts are stable on overnight trading after the end of the Wild Week market on the green
Source Link Stock Futures Are Stable on Overnight Trading After Wild Week Market Ends On Green