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Stock futures were little changed ahead of a week of big economic data


Traders on the floor of the NYSE, March 25, 2022.

Source: NYSE

Futures were little changed on Sunday night as investors reviewed a slew of key economic reports and continued to closely monitor the Federal Reserve’s plan to raise interest rates.

Futures tied to the Dow Jones Industrial Average inched 14 points higher, or 0.03%. S&P 500 futures were up 0.06% and Nasdaq 100 futures were 0.07% higher.

The Dow and S&P rose in the previous session to close a second straight week of wins. The Dow rose 153 points, or 0.4%. The S&P 500 is up 0.5% and has erased more of its damage since Russia invaded Ukraine in late February. Meanwhile, the Nasdaq Composite fell 0.2% but still ended the week in the green.

This move comes as investors continue to monitor developments in Russia’s Ukraine war and expectations about the Fed’s plan to raise interest rates.

“It looks like the move higher in commodity prices has paused and that gives investors an opportunity to get back into equities,” said Edward Moya, senior market analyst at Oanda. “. “Geopolitical risks remain very high and the stock market rally over the past two weeks has been impressive. The US economy is still in good shape, but buying every stock market drop is probably going to be a good thing.” won’t be the attitude for most traders going forward. The Fed has turned around.”

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Investors continue to keep a close eye on the Fed. Wall Street firms from Goldman Sachs to Bank of America rallied half a point at this year’s Fed futures meetings after central bank chairman Jerome Powell vow to be tough on inflation and said rate hikes could become more drastic if necessary.

On Friday, the 10-year benchmark yield hit a multi-year high of 2.5% As investors priced in a more aggressive interest rate hike, this helped lift financial stocks while technology stocks fell back.

Investors are looking forward to this week’s Job Openings and Labor Turnover Survey, or JOLTS. The JOLTS report is a set of employment data that the Federal Reserve is closely monitoring as it tightens monetary policy. ADP will also release its individual payroll data ahead of its main show, the closely watched monthly jobs report, on Friday.

Monday is a mild day for earnings reports but several major companies are expected to report their quarterly results this week, including BioNTech, Micron and Walgreens Boots Alliance.



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