Traders
work
on
the
floor
of
the
New
York
Stock
Exchange
on
April
1,
2024.
Brendan
Mcdermid
|
Reuters
U.S.
stock
futures
managed
to
tick
higher
Sunday
as
investors
dealt
with
a
multitude
of
issues,
including
Iran’s
missile
and
drone
strike
on
Israel
and
a
spike
in
equity
market
volatility
that
sent
the
Dow
Jones
Industrial
average
to
its
worst
week
of
the
year
last
week.
Futures
tied
to
the
Dow
Jones
Industrial
Average
rose
78
points,
or
0.2%.
S&P
500
futures
added
0.25%
and
Nasdaq-100
futures
advanced
0.28%.
Gold
futures
pulled
back
slightly
to
trade
at
$2,360
an
ounce.
Bullion
hit
a
record
level
last
week
and
is
up
15%
this
year
as
investors
seek
safety
from
sticky
inflation
and
geopolitical
tensions.
The
Dow
lost
476
points
and
the
S&P
500
posted
its
worst
day
since
January
on
Friday
on
lingering
inflation
concerns
and
a
poor
start
to
the
first-quarter
earnings
reporting
season.
The
losses
caused
the
Dow
to
shed
2.4%
last
week
for
its
worst
week
since
March
2023
and
its
second
down
week
in
a
row.
The
S&P
500
slid
1.5%
for
its
worst
week
since
October
2023.
The
Nasdaq
Composite
Index
posted
its
third
negative
week
in
a
row.
Iran
launched
drones
and
missiles
on
Israel
on
Saturday
night,
marking
the
first
direct
attack
on
Israel
from
Iranian
territory.
While
the
majority
of
the
threats
were
intercepted,
concerns
of
retaliation
remain.
Oil
prices,
which
have
risen
in
the
last
few
weeks
prior
to
the
attack
on
the
rising
Middle
East
tensions,
were
slightly
lower
Sunday.
“This
remains
a
dangerous
situation,
but
risks
to
oil
and
markets
may
be
a
bit
less
than
feared
Friday
on
the
eve
of
the
attack,”
Krishna
Guha,
Evercore
ISI
senior
managing
director
and
head
of
the
Global
Policy
and
Central
Bank
Strategy
Team,
wrote
in
a
Sunday
note.
Guha
added
that
the
a
key
question
remaining
is
how
Israel
Prime
Minister
Benjamin
Netanyahu
will
respond
to
the
attack.
The
Biden
administration
has
made
it
clear
it
does
not
want
Israel
to
retaliate,
noted
Guha.
“Provided
that
Netanyahu
looks
like
he
is
willing
to
follow
U.S.
advice,
there
may
be
some
element
of
a
relief
rally
in
markets
Monday.
However,
our
colleagues
in
the
energy
team
do
not
expect
a
big
retracement
in
the
price
of
oil,”
said
Guha.
On
the
earnings
front,
investors
will
be
watching
for
Goldman
Sachs
and
M&T
Bank
results
Monday
morning. More
economic
data
is
also
scheduled
for
release.
Retail
sales
data
is
scheduled
for
Monday,
as
well
as
business
inventories
data
for
February
and
manufacturing
numbers
for
March.
Treasury
yields
were
jumping
for
most
of
last
week
amid
a
third-straight
hotter-than-expected
CPI
reading.
However,
rates
eased
on
Friday
as
investors
bought
Treasuries
as
a
safe
haven
from
the
geopolitical
tensions.
Prices
move
inversely
to
yields.
While
JPMorgan
Chase
bested
analysts’
profit
estimates
in
its
first-quarter
report
Friday,
investors
sent
the
shares
6%
lower
on
concern
about
what
it
may
generate
from
lending
in
the
year
ahead.
CEO
Jamie
Dimon
also
raised
concerns
about
the
“unsettling”
global
landscape
and
“persistent
inflationary
pressures.”
