Equity futures are stable as investors look to pipeline cyberattacks

Michael Nagle | Bloomberg | Getty Images

Futures contracts are stable at the start of the overnight session on Sunday evening, and major U.S. stock indexes may be trading at or near the record when regular trading begins in New York. Suggests.

Dow futures rose 35 points, while futures related to the S & P 500 rose 0.1%. Nasdaq 100 futures have been added 0.2%.

An extended trading move took place after last week’s trading ended with a bright note as both the Dow Jones Industrial Average and the S & P 500 hit record highs on Friday.

Last week, the Dow rose 2.7% and the S & P 500 rose 1.2%. The Nasdaq Composite fell 1.5% over the same period, despite a 0.9% rise in the final session of the week.

Weekend optimism came despite a much weaker April employment report, which showed US employers added a net salary of 266,000 last month. Economists surveyed by Dow Jones expected an additional one million.

Mike Wilson, a US equity strategist at Morgan Stanley, said traders seem to have already set prices for a strong resumption of the economy, thanks to a reduction in Covid-19 cases.News that can threaten the story can quickly affect where portfolio managers allocate cash.

“We are comparing expectations with reality as the market is now properly priced for reopening. On a cumulative basis, retail sales are above pre-COVID trends. Weekends. I wrote in.

“The labor market is less slack than typical at this point in the cycle,” he added. “As the market shifts to mid-cycle leadership, we encourage you to raise the quality curve and add a more defensive balance.”

A ransomware attack shut down the largest fuel pipeline in the United States over the weekend. The colonial pipeline, which operates a 5,500-mile system, was forced to suspend fuel transportation from the Gulf Coast to the New York Metro area on Friday because it “brought off certain systems to contain the threat.” Said that.

The ultimate impact of the attack on fuel prices remains unclear, and analysts say the length of the shutdown has the greatest impact.

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Equity futures are stable as investors look to pipeline cyberattacks

Source link Equity futures are stable as investors look to pipeline cyberattacks

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