Dow futures gain after negative week, yields touch 16-year highs
Investing.com | Author Oliver Gray
Published Sep 25, 2023 08:34
Investing.com - U.S. stock futures were trading higher during Sunday's evening trade after a negative week for major benchmark averages as investors retreated in the face of rising long term bond yields, following hawkish rhetoric from Federal Reserve policymakers.
By 6:35pm ET (10:35pm GMT) Dow Jones Futures, S&P 500 Futures, Nasdaq 100 Futures were each up by 0.2%.
In the week ahead , investors will be closely monitoring building permits, CB consumer confidence, new home sales, durable goods orders, Q2 GDP, pending home sales and PCE price index data, as well as speeches from Kashkari, Bowman, Powell, Cook and Williams.
Among earnings, companies scheduled to report quarterly results include Costco Wholesale Corp (NASDAQ:COST), Cintas Corporation (NASDAQ:CTAS), Neogen Corporation (NASDAQ:NEOG), Micron Technology Inc (NASDAQ:MU), Nike Inc (NYSE:NKE), Accenture plc (NYSE:ACN) and Carnival Corporation (NYSE:CCL).
During Friday's regular trade, the Dow Jones Industrial Average lost 106.6 points or 0.3% to 33,963.9, the S&P 500 dipped 10 points or 0.2% to 4,320.1 and the NASDAQ Composite fell 12.2 points or 0.1% to finish at 13,211.8. For the week, the Dow shed 1.9%, the S&P 500 fell 2.8% and the NASDAQ lost 3.4%.
On the bond markets, United States 10-Year rates retreated from fresh 16-year highs to 4.436%.
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