Nasdaq futures slightly lower ahead of Big Tech gains

Traders on the NYSE as of March 8, 2022.

Source: New York SE

Nasdaq 100 futures fell slightly Monday night after shares rose in the afternoon and ahead of Big Tech’s gains.

Futures linked to the technology-focused index fell 0.1%. Dow Jones Industrial Average Futures and S&P 500 Futures were little changed.

In regular trading on Monday, the Nasdaq Composite was up 1.3%. The Dow rose 0.7% after shedding 500 points from earlier in the day, and the S&P 500 gained 0.6%.

The moves came as tech names like Microsoft, Alphabet and Meta Platforms rallied in the afternoon amid falling interest rates and ahead of an intense earnings week for mega-cap tech stocks. Twitter also jumped after its board accepted Tesla CEO Elon Musk’s offer to take it private.

The rebound was welcomed by investors after stocks ended the previous week on the downside, with the Dow falling to its fourth straight week of decline and the S&P and Nasdaq on Friday on a three-week losing streak. The tech-heavy Nasdaq is attempting to break out of bear market territory and is down 19.8% from its record.

Whether this is a low point remains to be seen. Edward Moya, senior market analyst at Oanda, told CNBC there’s still a lot of optimism about the US economy and said he expects a recovery rally from here.

“A third of the S&P reports [earnings] this week, and you’re likely to see a lot of it: a lot of top and bottom line beats. Businesses will talk about margin squeeze and pass price increases on to consumers, but will still emphasize that there is still general optimism about the economy.

Stock picks and investment trends from CNBC Pro:

Between the continuation of gains and a period of calm for the Federal Reserve, there is likely to be a relief rally in the market, Moya added.

“We’re not getting any more nervous about the Fed tightening because we won’t hear much more about it until the May meeting,” he said.

Market bull Tom Lee, head of research at Fundstrat Global Advisors, said while he expected a “treacherous” first half of the year, the market had been worse than he expected, with inflation worsening relative to market expectations. Nevertheless, he remains optimistic.

“When the bond market is screaming for a little tighter Fed, it’s hard for stocks to hold up and I think that’s what we’re going through right now, but I don’t think that means we should be selling stocks here either.” not,” he said Monday on CNBC’s Closing Bell: Overtime.

“Markets just want to have a sense of when this might end,” he added. “If inflation doesn’t peak at some point, that’s a concern for markets, but I also don’t think it’s set in stone that inflation will continue to be a problem in the second half of the year.”

Tech earnings begin Tuesday after the bell with Alphabet and Microsoft. Meta, Amazon and Apple will report later in the week. UPS and 3M are also due to report tomorrow morning.

In economic data, investors are expecting new numbers for new home sales and consumer confidence on Tuesday morning.

https://www.cnbc.com/2022/04/25/stock-market-futures-open-to-close-news.html Nasdaq futures slightly lower ahead of Big Tech gains

Jane Marczewski

World Time Todays is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@worldtimetodays.com. The content will be deleted within 24 hours.

Related Articles

Back to top button