U.S. stock futures were higher on Monday night after the S&P 500 fell to its lowest level in more than a year.
Dow Jones Industrial Average futures rose 92 points, or 0.3%. Futures for the S&P 500 and Nasdaq 100 were up 0.3% and 0.4%, respectively. Shares of AMC and Novavax made the move after hours based on their most recent quarterly reports.
Earlier in the day, the S&P 500 fell below 4,000, or as low as 3,975.48, marking the index’s weakest point since March 2021. The broad market index has dropped 17% from its all-time high. for 52 weeks as Wall Street continued to struggle to find. bottom after last week’s loss.
The Dow Jones Industrial Average is down 1.99%, down more than 12% from its 52-week high. The S&P 500 fell 3.2%. The tech-heavy Nasdaq Composite lost 4.29%, down more than 27% from its 52-week high.
Those moves come as inflation fears continue to affect markets on all sides. Technology stocks in particular fell sharply. Shares of Meta Platforms and Alphabet fell 3.7% and 2.8%, respectively. Shares of Tesla fell more than 9%.
“Sentiment has been very bearish over the last few months, if uncertain weeks ago, and unlikely to recover … tells you everything you need to know about the current state of the market, which means The bears are Adam Sarhan, founder and CEO of 50 Park Investments, said.
Meanwhile, the yield on the benchmark 10-year Treasury note rose to its highest level since late 2018, a peak of 3%.
After hours trading on Monday, AMC’s stock price jumped 4% after the entertainment company report “strongest first quarter in two full years” as consumers return to movie theaters.
NovavaxShares fell 10% in extended trading after the biotech company fell short of profit expectations despite also reporting a profitable first quarter.
Peloton Interactive and Fox will report earnings on Tuesday before the alarm goes off. Coinbase, Roblox, RealReal and Allbirds It is expected to report earnings on Tuesday after the market close.
