{"id":45322,"date":"2023-08-07T06:11:16","date_gmt":"2023-08-07T10:11:16","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/stock-index-futures-advance-after-worst-week-for-the-sp-500-since-march\/"},"modified":"2023-08-07T06:11:18","modified_gmt":"2023-08-07T10:11:18","slug":"stock-index-futures-advance-after-worst-week-for-the-sp-500-since-march","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=45322","title":{"rendered":"Stock-index futures advance after worst week for the S&#038;P 500 since March"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002369911\" role=\"document\">\n<p>U.S. stock futures recovered a portion of last week\u2019s losses on Monday as earnings season continued.<\/p>\n<h2>How are stock-index futures trading<\/h2>\n<ul class=\"articleList\">\n<li>\n      S&amp;P 500 futures<br \/>\n        ES00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209948968\/delayed\" class=\"positive\">+0.38%<\/bg-quote><br \/>\n       rose 20 points, or 0.4%, to 4518<\/p>\n<\/li>\n<li>\n      Dow Jones Industrial Average futures<br \/>\n        YM00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210407078\/delayed\" class=\"positive\">+0.26%<\/bg-quote><br \/>\n       gained 123 points, or 0.3%, to 35276<\/p>\n<\/li>\n<li>\n      Nasdaq 100 futures<br \/>\n        NQ00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210219788\/delayed\" class=\"positive\">+0.53%<\/bg-quote><br \/>\n       advanced 85 points, or 0.6%, to 15439<\/p>\n<\/li>\n<\/ul>\n<p>On Friday, the Dow Jones Industrial Average<br \/>\n        DJIA<br \/>\n       fell 150 points, or 0.43%, to 35066, the S&amp;P 500<br \/>\n        SPX<br \/>\n       declined 24 points, or 0.53%, to 4478, and the Nasdaq Composite<br \/>\n        COMP<br \/>\n       dropped 50 points, or 0.36%, to 13909.<\/p>\n<div class=\"paywall\">\n<h2>What\u2019s driving markets<\/h2>\n<p>Buyers are reasserting their dominance early Monday, after the S&amp;P 500 shed 2.3% last week, its biggest weekly decline since March.<\/p>\n<p>A bullish run that took the Wall Street benchmark to 16-month highs came to a halt as concerns about elevated Treasury issuance pushed bond yields higher and investors parsed a mixed bag of corporate earnings.<\/p>\n<p>The lurch higher in bond yields \u2014 which saw the 10-year Treasury yield<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       touch 4.2% for the first time since November \u2014 left stocks looking relatively less attractive, according to some analysts.<\/p>\n<p> \u201cThe difference between the expected earnings yield of the S&amp;P 500 and the yield on the 10-year Treasury bond has decreased to around 1%. We haven\u2019t seen this level since the tech bubble burst in 2002. It\u2019s important to remember that high valuations alone are not enough to cause issues, but the current yield environment suggests that things may be getting a bit expensive,\u201d said  Stephen Innes, managing partner at SPI Asset Management. <\/p>\n<p>\u201c[I]investors will monitor U.S. yields closely, as a rise could harm global stocks, particularly if this week\u2019s U.S. CPI numbers exceed projections,\u201d Innes added.<\/p>\n<p>The CPI report will be published on Thursday. Economic data due Monday include the consumer credit report for June at 3 p.m. Eastern.<\/p>\n<p>Meanwhile, the second quarter earnings season continues with Tyson Foods<br \/>\n        TSN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/201117502\/composite\" class=\"positive\">+0.34%<\/bg-quote><span>,<\/span><br \/>\n       Paramount Global<br \/>\n        PARA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200340870\/composite\" class=\"positive\">+3.58%<\/bg-quote><span>,<\/span><br \/>\n       and KKR<br \/>\n        KKR,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/206126495\/composite\" class=\"positive\">+1.60%<\/bg-quote><br \/>\n       among those reporting results on Monday.<\/p>\n<p>Earnings have not provided the market with the support some may have hoped for.  With 84% of the companies in the S&amp;P 500 having reported earnings for the second quarter, 79% of them have reported actual earnings per share above the mean EPS estimate, which is above the 5-year average of 77% and above the 10- year average of 73%, according to FactSet.<\/p>\n<p>However, John Butters, senior earnings analyst at FactSet, notes that companies that have reported positive earnings surprises have seen an average price decrease of 0.5% two days before the earnings release through two days after the earnings release \u2014 well below the 5-year average price increase of 1.0% during this same window for companies reporting positive earnings surprises.<\/p>\n<p>\u201c[I]f this is the final percentage for the quarter, it will mark the largest average negative price reaction to positive EPS surprises reported by S&amp;P 500 companies for a quarter since Q2 2011,\u201d said Butters.<\/p>\n<p>On a technical note, Jonathan Krinsky, strategist at BTIG, said that after last week\u2019s decline, the S&amp;P 500 is now looking to test support levels.<\/p>\n<p>\u201cInitially the rising 50-day moving average at 4406, but more meaningful support comes in at 4200-4300. A test of 4200 would be circa 9% off the recent highs, which we think is reasonable even if this uptrend is set to continue later this year,\u201d Krinsky.<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/stock-index-futures-advance-after-worst-week-for-the-s-p-500-since-march-754c9f24?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stock futures recovered a portion of last week\u2019s losses on Monday as earnings season continued. How are stock-index futures trading S&amp;P 500 futures ES00, +0.38% rose 20 points, or 0.4%, to 4518 Dow Jones Industrial Average futures YM00, +0.26% gained 123 points, or 0.3%, to 35276 Nasdaq 100 futures NQ00, +0.53% advanced 85 points, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":45323,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-45322","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stock-index futures advance after worst week for the S&amp;P 500 since March | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. stock futures recovered a portion of last week\u2019s losses on Monday as 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