Stock futures are flat after a rollercoaster week
Traders on the floor of the NYSE, Aug. 4, 2022.Stock futures edged higher in overnight trading Sunday as investors awaited big earnings reports to roll in.
Futures on the Dow Jones Industrial Average gained about 50 points. S&P 500 futures and Nasdaq 100 futures both inched 0.3% higher. The S&P 500 just came off its fourth negative week in five with a 1.6% loss last week. A hotter-than-expectedstoked wild price swings in the markets as investors readjusted their expectations for the Federal Reserve's coming rate hikes.
"As inflation remains elevated for longer and the Fed hikes further, the risk increases that the cumulative effect of policy tightening pushes the U.S. economy into recession, undermining the outlook for corporate earnings," Mark Haefele, CIO at UBS Global Wealth Management, said in a note. Meanwhile, the third-quarter earnings season has kicked off. Investors are monitoring if corporate America will have any significant downward revisions to their outlooks in the face of stubbornly high inflation and the economic slowdown.
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