Stock futures slipped slightly after the market’s best month since 2020 as investors look ahead to another week of key earnings reports and economic data.
Dow Jones Industrial Average futures were down 67 points, or 0.2%. S&P 500 futures were down 0.2% and Nasdaq 100 futures were down 0.3%.
on Friday, gained all the major indicators, posted winning weeks and capped the best month of the year so far, and then some. The Dow Jones rose 6.7% in July, while the S&P 500 gained 9.1%. The Nasdaq Composite Index is up 12.4% as investors rushed into technology stocks that were the biggest gainers during this bear market. for each index, July shows were the best since 2020.
“We are seeing a comfortable recovery in the stock market, with pessimism at extreme levels, and with long-term interest rates declining,” said Chris Zaccarelli, chief investment officer at CIA.
“We believe the rally will continue until later in the summer, but as stock prices rebound and it becomes increasingly clear that we are heading into a more typical recession (eg a situation with high unemployment and low nominal GDP near zero or negative), the markets There will be another sale again.” “But until that time, enjoy the gathering because it will probably catch a lot of people off guard.”
This week, investors have more economic data and company earnings to absorb. On Monday, companies like Activision Blizzard, Devon EnergyAnd the Lowes And more earnings report. Later in the week, Uber, Caterpillar, Starbucks, Eli Lilly, Amgen, and others rolled out scheduled reports.
In addition, Friday’s non-farm payrolls report from the Bureau of Labor Statistics will give further insight into the strong labor market. So far this year, strong job growth has prompted economists to say that the United States is Currently not in a recessioneven with two consecutive quarters of negative GDP.