Stock Futures Dip After S&P 500 Posts 4-Day Losing Streak
"As we kick-started 2022 this week, trading attention fell on a definitive rotation into value and pro-cyclical stocks and out of growth as investors digested a sharply higher rate environment," Goldman Sachs' Chris Hussey said in a Friday note.
The rising rates come as the Federal Reserve signaled it could dial back its easy monetary policy more aggressively than some expected. Minutes from the Fed's December meeting released Wednesday showed the central bank is planning to shrink its balance sheet in addition to hiking rates. Investors are awaiting key inflation reports in the week ahead. The consumer price index is set for release Wednesday and the producer price index is slated for Thursday.
Federal Chair Jerome Powell is scheduled to testify Tuesday at his nomination hearing before a Senate panel, while the hearing on Fed Governor Lael Brainard's nomination to the post of vice chair is set for Thursday. Delta Air Lines reports earnings Thursday and financial heavyweights JPMorgan Chase, Citigroup and Wells Fargo release quarterly results Friday.
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