A trader works on the floor of the New York Stock Exchange.
NYSE
U.S. equity futures fell on Sunday evening as investors looked for key inflation data, after reversing its violent market trajectory last week.
Futures are tied to the Dow The Jones industrial average fell 84 points, or 0.2%. S&P 500 futures retreated 0.2% and Nasdaq 100 Futures lost 0.3%.
On Friday, all major averages ended the week higher but stopped short of a full recovery. The Dow Ended the week 0.6% lower S&P 500 Tech-heavy, down just 0.04% Nasdaq Composite It ended with a loss of 0.18%.
“Sentiments are high and market swings are likely to stay together, so I wouldn’t be shocked if we have another week of volatility,” Kelly Cox, chief market strategist at Rittholtz Wealth Management, told CNBC. “People are beginning to face a recession even if there is no crisis. As stock market investors, fear will often work in our favor. If the economic data continues, further relief rallies are possible, and rate-sensitive sectors may continue to lead. The market is higher.”
Investors are hoping to get a better sense of the state of the economy this week after recent fears of a job market slowdown spooked traders and rattled the market. On Tuesday, they will look at the July producer price index report, followed by the consumer price index on Wednesday, confirming that price growth remains steady. July retail sales will also be released on Thursday.
“Another round is good [inflation] The data will help calm fears that the Fed may be losing the plot,” Cox said. “Investors have jumped to conclusions about the economy, and now they’re going to analyze new data to determine how much of this sell-off really warrants. is.”
“Retail sales and retailer earnings may show that fears of a job market slowdown are overblown,” he added. “We haven’t seen many alarming details about U.S. consumers so far, so it’s important to consider the aggregate of spending data instead of panicking over a lackluster jobs report.”
Home Depot will report earnings before the bell on Tuesday, while Walmart will report on Thursday.
