US stock futures fell on Monday after a He stopped at the summer rally last weekFears of rising interest rates have returned to Wall Street.
Dow Jones Industrial Average futures were down 339 points, or 1.01%. S&P 500 and Nasdaq 100 futures are down 1.21% and 1.56%, respectively.
come these moves European markets witnessed sharp declinesPartly driven by fears of rising inflation and higher interest rates around the world.
On Friday, the S&P 500 index closed 1.29% lower. The Dow Jones Industrial Average was down 292 points, or 0.86%, and the Nasdaq Composite was down 2.01%. The major averages also posted weekly losses.
Investors are anticipating what could be a volatile week of trading ahead of Federal Reserve Chairman Jerome Powell’s recent comments on inflation at the central bank’s annual Jackson Hole Economic Symposium.
Fed Chairman Powell is likely to sound significantly more hawkish during his Jackson Hole address on Friday morning at 10 a.m. ET than he did at his press conference on July 27, when he said the federal funds rate had already returned. to neutrality,” read a Monday report from Chris Sinek of Wolfe Research.
On the earnings front, traders expect Palo Alto Networks and Zoom Video to report results on Monday after the bell.