The trader works on the floor of the New York Stock Exchange (NYSE) in New York, USA on Monday, August 23, 2021.
Michael Neagle | Bloomberg | Getty Images
Equity futures remained strong on Sunday night trading as investors prepared for the volatile last week of September.
Dow Jones Industrial Average futures rose 20 points. Both the S & P 500 futures and the Nasdaq 100 futures were almost unchanged.
Wall Street spends Jet Coaster Week in a number of concerns, from the debt crisis of Chinese real estate giant Evergrande to the Federal Reserve Board’s signal on a rollback of financial stimulus and a crackdown on Beijing’s cryptocurrency. I’m about to finish. Still, the major averages managed to wipe out sudden losses at the beginning of the week and generate small profits.
The Dow Jones Industrial Average finished a week that was 0.6% higher, 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 reflect the tug of war between the bulls and the bears,” said Mark Hackett, head of investment research across the country. “The market recovery has shown that the buying and buying spirit remains.”
So far, September has responded to the reputation for volatility and weakness, as all major averages have recorded modest losses. The S & P 500 will be 1.5% off, marking the first negative month since January. Broad equity benchmarks have fallen by about 2%, a record high since September 2. The Dow is down 1.6% this month and the Nasdaq is down 1.4%.
“We will continue to pay attention for the time being, especially during the weakest seasons (late September to mid-October),” Raymond James CIO Larry Adam said in a memo. “But given continued strong economic growth, our bias is to retain existing equity exposures or add weaknesses opportunistically.”
Investors are monitoring Washington’s progress as legislators seek to thwart the possibility of government closures, US defaults, and the collapse of President Joe Biden’s radical economic agenda.
House Speaker Nancy Pelosi expects a $ 1 trillion bipartisan infrastructure bill to pass this week on Sunday, but said voting on the bill could be postponed from the original Monday timeline. rice field.
Congress must pass a new budget by the end of September to avoid closures, and lawmakers have also figured out ways to raise or suspend debt caps in October before the United States defaults for the first time. Must be.
Elsewhere, Bitcoin fell about 2% to $ 43,454 after falling 5% on Friday. The sale took place after the central bank of China declared all cryptocurrency-related activities illegal.
Equity futures are stable on overnight trading after the market ends Wild Week on the green
Source link Equity futures are stable on overnight trading after the market ends Wild Week on the green