watch
now
Stock
futures
pushed
higher
on
Sunday
evening
as
Wall
Street
looks
to
find
its
footing
following
a
steep
sell
off
for
tech
companies.
Futures
the
S&P
500
rose
0.3%.
Nasdaq
100
futures
gained
0.4%,
while
those
for
the
Dow
Jones
Industrial
Average
added
97
points,
or
0.3%.
The
S&P
500
and
Nasdaq
Composite
tell
3.05%
and
5.52%
last
week,
and
are
each
on
six
day
losing
streaks.
The
Nasdaq
fell
2%
on
Friday
alone,
with
chip
giant
Nvidia
sinking
10%.
The
Dow,
which
has
less
tech
exposure
than
the
other
two
benchmark
averages,
was
little
changed
on
the
week.
The
struggles
for
equities
come
as
recent
inflation
readings
have
diminished
hopes
that
the
Federal
Reserve
will
cut
rates
several
times
in
2024.
“Large
weekly
losses
in
SPY
and
QQQ
showed
that
investors
are
finally
waking
up
to
the
reality
of
the
long-promised
‘higher
for
longer’
interest
rate
scenario
they
refused
to
believe,”
Rick
Bensignor
of
Bensignor
Investment
Strategies
said
in
a
note
to
clients
Sunday,
referring
to
major
index
funds.
This
week
will
deliver
several
major
economic
updates,
with
GDP
due
out
on
Thursday
and
a
key
inflation
reading
on
Friday.
Corporate
earnings
could
also
be
a
factor
in
the
coming
days,
with
names
like
Tesla,
Meta
Platforms,
American
Airlines,
Microsoft
and
Alphabet
all
set
to
report
in
the
week
ahead.
