Futures pointing to fourth day of gains on Wall Street
U.S. stock futures pointed to Wall Street registering a fourth consecutive day of gains on Monday as traders look ahead to inflation data later in the week.On Friday, the Dow Jones Industrial Average DJIA, +1.19% rose 377 points, or 1.19%, to 32152, the S&P 500 SPX, +1.53% increased 61 points, or 1.53%, to 4067, and the Nasdaq Composite COMP, +2.11% gained 250 points, or 2.11%, to 12112.
The latest equity rebound, with the S&P 500 up 4.1% since last Tuesday’s close, suggests investors now appear comfortable with the prospect of a 75 basis point interest rate rise by the Federal Reserve at the conclusion of its meeting on September 21. “The latest market optimism could be explained by hope to see a second month of softening inflation in the U.S. at this week’s CPI release,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank in a morning note.
Jonathan Krinsky, chief market technician at BTIG, noted that technical factors had helped sentiment but that gains may prove fragile given seasonal headwinds and if the dollar and bond yields did not continue to retreat.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock Futures Rise as Wall Street Looks Ahead to Key Inflation DataWall Street is awaiting key inflation data this week.
Read more »
Asian markets rise on back of Wall Street's Friday rallyShares rose Monday in Asia after last week’s strong close on Wall Street snapped a three-week losing streak.
Read more »
Watch Paul Wall, Prairie View band put on most Houston halftime show at Texans gameWatch Paul Wall, Prairie View A&M band put on the most Houston halftime show at Texans game
Read more »
EXCLUSIVE: Migrant ‘Ladder Crews’ Scale Arizona Border Wall NightlyA source within Customs and Border Protection notes that multiple groups of migrants are rushing the border wall near Douglas, Arizona, almost nightly.
Read more »
South Africa mine dam wall collapses, killing one and injuring 40The disaster occurred in the diamond mining town of Jagersfontein.
Read more »