Stock futures rise after Dow falls for 8th-straight week in relentless sell-off

1 month ago

Traders connected the NYSE, May 20, 2022.

Source: NYSE

Stock futures roseate successful overnight trading Sunday aft the Dow Jones Industrial Average fell for its 8th consecutive week amid a broader marketplace sell-off.

Futures connected the Dow concern mean gained 130 points, oregon 0.42%. S&P 500 futures added 0.5% and Nasdaq 100 futures roseate 0.5%.

The moves came after the S&P 500 connected Friday dipped into carnivore marketplace territory connected an intraday basis. While the benchmark was down 20% astatine 1 point, it did not adjacent successful a carnivore marketplace aft a late-day comeback.

In Friday's regular trading session, the S&P 500 closed 0.01% higher astatine 3,901.36 aft falling arsenic overmuch arsenic 2.3% earlier successful the session. The Dow added 8.77 points astatine 31,261.90 aft sinking arsenic overmuch arsenic 600 points and the Nasdaq inched 0.3% lower.

The S&P 500 presently sits 19% disconnected its grounds precocious portion the Dow is down 15.4%. The Nasdaq is already heavy successful carnivore marketplace territory, down 30% from its high.

Last week marked the Dow's archetypal eight-week losing streak since 1923, portion the S&P 500 capped a seven-week losing streak, its worst since 2001.

The Nasdaq saw its seventh antagonistic week successful a enactment for the archetypal clip since March 2001. The tech-heavy scale besides saw its lowest intraday level since November 2020 connected Friday.

Eight of 11 sectors ended the week successful the red, led by user staples, which dipped 8.63% and had its worst play show since March 2020. Energy finished the week connected top, rising 1.09%. Consumer discretionary and connection services besides finished the week much than 32% disconnected their 52-week highs.

"Investors are trying to travel to grips with what precisely is happening and ever effort to conjecture what the result is," said Susan Schmidt of Aviva Investors. "Investors hate, and the markets hatred uncertainty, and this is simply a play wherever they don't person immoderate wide denotation connected what's going to hap with this push-pull betwixt ostentation and the economy."

Investors are looking up to a new batch of net this week, including an array of large retail names. Zoom Video is acceptable to study results Monday followed by Costco, Nvidia, Dollar General, Nordstrom and Macy's aboriginal successful the week.