U.S. stock futures moved higher early Monday, as Wall Street looks to snap a three-week losing streak.
How are stock-index futures trading On Friday, the Dow Jones Industrial Average DJIA rose 26 points, or 0.07%, to 34501, the S&P 500 SPX declined 1 points, or 0.01%, to 4370, and the Nasdaq Composite COMP dropped 26 points, or 0.2%, to 13291.
Niether of those factors are providing much succour early Monday. A trimming of interest rates over the weekend by China’s central bank has underwhelmed the market, while the 10-year Treasury yield is up about 4 basis points to 4.29%, holding near 15-year highs. With that in mind, the reception afforded Nvidia’s results, due on Wednesday, may shape market sentiment for a while. The chipmaker is among the stragglers of an earnings season that has generally beaten forecasts but failed to deliver additional bullish propulsion to the market.
“Over our many conversations with institutional investors in the past week, the vast majority cite the rise in interest rates as the most concerning for equities,” Lee wrote in a note published over the weekend.
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