{"id":51017,"date":"2023-08-21T06:16:17","date_gmt":"2023-08-21T10:16:17","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/stock-index-futures-gain-ground-after-three-week-losing-streak\/"},"modified":"2023-08-21T06:16:18","modified_gmt":"2023-08-21T10:16:18","slug":"stock-index-futures-gain-ground-after-three-week-losing-streak","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=51017","title":{"rendered":"Stock-index futures gain ground after three-week losing streak"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002420919\" role=\"document\">\n<p>U.S. stock futures moved higher early Monday, as Wall Street looks to snap a three-week losing streak.<\/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\">+0.50%<\/bg-quote><br \/>\n       rose 15 points, or 0.3% to 4397<\/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\">+0.38%<\/bg-quote><br \/>\n       gained 79 points, or 0.2% to 34644<\/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\">+0.65%<\/bg-quote><br \/>\n       rose 86 points, or 0.5% to 14830<\/p>\n<\/li>\n<\/ul>\n<p>On Friday, the Dow Jones Industrial Average<br \/>\n        DJIA<br \/>\n       rose 26 points, or 0.07%, to 34501, the S&amp;P 500<br \/>\n        SPX<br \/>\n       declined 1 points, or 0.01%, to 4370, and the Nasdaq Composite<br \/>\n        COMP<br \/>\n       dropped 26 points, or 0.2%, to 13291.<\/p>\n<div class=\"paywall\">\n<h2>What\u2019s driving markets<\/h2>\n<p>Futures are striving to find their footing as Wall Street comes off a three-week losing streak.<\/p>\n<p>\u201cGlobal markets have recently experienced a series of stumbles due to concerns about China\u2019s economy and higher sovereign bond yields. Last week the S&amp;P 500 dropped 2.1 %, worryingly, with every sector ending in the red,\u201d noted Stephen Innes, managing partner at SPI asset management.<\/p>\n<p>Niether of those factors are providing much succour early Monday. A trimming of interest rates over the weekend by China\u2019s central bank has underwhelmed the market, while the 10-year Treasury yield is up about 4 basis points to 4.29%, holding near 15-year highs.<\/p>\n<p>The rising borrowing costs have been a particular problems for some of the big technology stocks that tend to lead the market, according to Innes.<\/p>\n<p>\u201cLast week, several prominent stocks within the S&amp;P 500, such as<br \/>\n        GOOGL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202490156\/lastsale\" class=\"negative\">-1.89%<\/bg-quote><span>,<\/span><\/p>\n<p>        TSLA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203558040\/lastsale\" class=\"negative\">-1.70%<\/bg-quote><span>,<\/span><\/p>\n<p>        META,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205064656\/composite\" class=\"negative\">-0.65%<\/bg-quote><span>,<\/span><\/p>\n<p>        AMZN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210331248\/composite\" class=\"negative\">-0.57%<\/bg-quote><span>,<\/span><\/p>\n<p>        MSFT,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207732364\/composite\" class=\"negative\">-0.13%<\/bg-quote><span>,<\/span><\/p>\n<p>        AAPL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202934861\/composite\" class=\"positive\">+0.28%<\/bg-quote><span>,<\/span><br \/>\n       and<br \/>\n        NVDA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200467500\/composite\" class=\"negative\">-0.10%<\/bg-quote><span>,<\/span><br \/>\n       all underperformed compared to the broader market index. This dip in performance is attributed to the recent surge in interest rates\u2026This upward rate movement has exerted downward pressure on longer-duration assets,\u201d Innes added.<\/p>\n<p>With that in mind, the reception afforded Nvidia\u2019s results, due on Wednesday, may shape market sentiment for a while. The chipmaker is among the stragglers of an earnings season that has generally beaten forecasts but failed to deliver additional bullish propulsion to the market.<\/p>\n<p>\u201cThis picture simply means that the fear of a further Fed tightening, prospects of higher interest rates, combined [with] the set of bad news from China simply didn\u2019t let investors enjoy the better-than-expected earnings,\u201d said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.<\/p>\n<p>However, Tom Lee, head of research at Fundstrat, reckons the recent sell-off will be halted at or before Federal Reserve Chairman Jay Powell makes a speech at the Jackson Hole symposium at the end of the week. <\/p>\n<p>\u201cOver our many conversations with institutional investors in the past week, the vast majority cite the rise in interest rates as the most concerning for equities,\u201d Lee wrote in a note published over the weekend.<\/p>\n<p>And he thinks the Fed is worried by the surge in 10-year yields, too, because it represents a meaningful tightening of financial conditions for markets, companies and households.<\/p>\n<p>\u201cI think the Fed likely says something dovish-ish [sic]. Why? Does Fed want to risk another \u2018something breaking\u2019 ala Feb 2023? While some look back at August 2022 when Fed Chair Powell\u2019s statement was hawkish and marked the local top in 2022 (stocks fell -19% next 8 weeks), we think the context is the opposite.\u201d Lee concluded<\/p>\n<p>Zoom video Communications<br \/>\n        ZM,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211319643\/composite\" class=\"positive\">+1.42%<\/bg-quote><br \/>\n       will report results after Monday\u2019s closing bell. There are no top drawer U.S. economic data due Monday.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/stock-index-futures-gain-ground-after-three-week-losing-streak-ee1acee4?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stock futures moved higher early Monday, as Wall Street looks to snap a three-week losing streak. How are stock-index futures trading S&amp;P 500 futures ES00, +0.50% rose 15 points, or 0.3% to 4397 Dow Jones Industrial Average futures YM00, +0.38% gained 79 points, or 0.2% to 34644 Nasdaq 100 futures NQ00, +0.65% rose 86 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":48172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-51017","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 gain ground after three-week losing streak | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. stock futures moved higher early Monday, as Wall Street looks to snap a three-week losing streak.How are 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