Traders
on
the
floor
of
the
New
York
Stock
Exchange
on
Aug.
4,
2022.
Source:
NYSE
Stock
futures
rose
slightly
in
overnight
trading
Sunday
after
the
market
suffered
a
down
week
as
2024’s
rally
took
a
breather.
Futures
on
the
Dow
Jones
Industrial
Average
climbed
55
points.
S&P
500
futures
and
Nasdaq
100
futures
both
inched
up
0.1%.
The
30-stock
Dow
fell
2.3%
last
week,
posting
its
worst
weekly
performance
March
2023.
The
S&P
500
declined
nearly
1%
during
the
period,
its
biggest
weekly
loss
since
early
January.
The
tech-heavy
Nasdaq
Composite
dipped
0.8%,
suffering
its
fourth negative
week
in
five.
The
market
did
end
last
week
on
a
positive
note,
however,
after
a
stronger-than-expected
jobs
report
Friday.
The
surprising
gain
in
payrolls
gave
investors
hope
that
a
strong
economy
could
continue
to
support
corporate
earnings
growth,
even
if
it
means
higher
interest
rates
for
longer.
“Jobs and
wages
are
rising
solidly
and
aggregate
payrolls
are
outpacing
inflation,
which
will
keep
Americans
spending
in
2024
and
powering
the
economy
forward,”
said
Bill
Adams,
chief
economist
at
Comerica
Bank.
For
further
clarity
on
how
successful
the
Federal
Reserve’s
fight
against
inflation
has
been,
investors
are
eagerly
waiting
for
readings
for
March
consumer
and
producer
price
indexes
later
this
week.
Economists
polled
by
Dow
Jones
expect
the
CPI
number,
to
be
released
Wednesday
morning,
to
increase
0.3%
last
month
and
3.5%
year
over
year.
“The Fed
seems
unbothered
by
robust
employment
gains … Inflation
though
is
a
bigger
issue,
and
it’s imperative
that
the
Mar
price
data (CPI,
PPI,
PCE)
show
the disinflationary
process
getting
back
on
track,”
Adam
Crisafulli,
founder
of
Vital
Knowledge,
said
in
a
note.
Investors
are
also
grappling
with
rising
bond
yields
and
oil
prices.
The
benchmark
10-year
Treasury
yield
surged
nearly
20
basis
points
to
last
week
to
about
4.4%.
U.S.
crude
oil
touched
$87
amid
geopolitical
tensions.
