Stock futures increased slightly in overnight trading on Sunday, after worst week of S & p 500 since March 2020. Investors are awaiting results of more corporate earnings and also an important policy decision from the central bank.
Futures on the Dow Jones rose up by 120 points. S&P 500 futures increased 0.5% and Nasdaq 100 futures increased 0.9%.
The overnight action came after a worst week since March 2020. The S&P 500 closed below its 200-day average for the first time ever since June 2020.
The blue-chip Dow declined by 4.6% and recorded its worst week since October 2020.
Adam Crisafulli, Founder of Vital Knowledge, said, “What had initially been a stimulus withdrawal-driven decline morphed last week to include earnings jitters. So investors are now worried not just about the multiple placed on earnings, but the EPS forecasts themselves.”
David Lefkowitz, head of equities Americas at UBS Global Wealth Management said, “The big story so far in 2022 has been the rapid move higher in interest rates, which is prompting investors to re-assess valuations for some of the most expensive segments of the market and rotate into value stocks.”