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Stock index futures slightly higher after a day of losses on Monday


Share futures were up slightly in overnight trading Monday after a day of decline as investors prepared to rebalance their portfolios as the end of the quarter quickly approached.

Dow Jones Industrial Average futures rose 36 points. S&P 500 futures rose 0.2 percent and Nasdaq 100 futures gained 0.3 percent.

The overnight action entailed modest losses on Wall Street as the rebound stalled. The blue-chip Dow fell about 60 points, while the broader benchmark, the S&P 500, fell 0.3 percent and the tech-heavy Nasdaq Composite lost 0.7 percent. The major averages rose last week, posting their first positive week since May.

“Market bulls that have repeatedly retreated from the carpet this year could be questioned for a rally, as many of the bulls in 2022 quickly gave way,” said Chris Larkin, chief executive officer. for new lows and this time may be no different.” Trading manager at E-Trade.

Investors will keep an eye on more data on Tuesday including June consumer confidence and April home prices to gauge the health of the economy. Recession fears have recently increased as the Federal Reserve tries to combat rising inflation with aggressive interest rate hikes.

Nike shares edged higher in after-market trading after the sportswear company topped Wall Street earnings and sales expectations. for the fiscal fourth quarter despite the Covid lockdown in China and a tougher environment for consumers in the US

Some big banks increase dividends to successfully meet this year’s Federal Reserve stress tests, including Bank of America, Morgan Stanley and Goldman Sachs. However, JPMorgan and Citigroup say increasingly stringent capital requirements force them to keep their dividends unchanged.

Despite last week’s rally, the S&P 500 fell nearly 14% in the second quarter, on track to record its worst quarter since the first quarter of 2020, in the depths of the pandemic.

“The rebound from the bear market lows is a welcome change of pace, despite slowing economic growth and a lack of investment among investors,” said Mark Hackett, head of investment research at Nationwide. Investors are skeptical about the durability of the recovery,” said Mark Hackett, Nationwide’s head of investment research.



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