Stock futures slip as Wall Street looks to rebound from losing week


Stock futures slip as Wall Street looks to rebound from losing week

PUBLISHED SUN, MAR 21 20216:03 PM EDTUPDATED SUN, MAR 21 20218:33 PM EDTJesse Pound@JESSERPOUNDSHAREShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email

Traders on the floor of the New York Stock Exchange.

Traders on the floor of the New York Stock Exchange.Source: NYSE

U.S. stock futures fell slightly on Sunday evening as Wall Street looked to bounce back from a losing week.

Futures contracts tied to the Dow Jones Industrial Average fell 68 points, or 0.2%. Those for the S&P 500 were also down 0.2%, while those for the Nasdaq 100 rose 0.1%.

The move in futures comes after the three major indexes lost ground last week. The Dow and S&P 500 slipped on Friday to finish the week down 0.5% and 0.8%, respectively, breaking two-week winning streaks. The Nasdaq Composite rose on Friday but still finished the week with a 0.8% loss.

The struggles for stocks came as bond yields jumped again last week, pressuring the tech and growth stocks that led the market back from its pandemic-sparked sell-off last year. On Sunday, futures for the price of 10-year Treasury note rose, indicating lower yields.

Even with the weakness last week, the S&P 500 and Dow are still near record highs, and the Nasdaq isn’t too far off. Darrell Cronk, chief investment officer of Wells Fargo’s Wealth and Investment Management, said the stock market still appeared to be on track for a multi-year climb.

“If you went down the list and started putting boxes of check-check-check-check, you would look at this in a vacuum … and say it looks like an early recovery cycle that’s roughly a year in that probably has a number of years yet to run,” Cronk said.

Optimism about the markets and the path of the U.S. economy has been growing as vaccines are rolling out across the country, with the pace of Americans getting shots climbing in recent weeks. Several states are seeing an increase in Covid-19 cases, however.

Over the weekend, the industrials sector produced a major piece of corporate news. Canadian Pacific Railway announced that it was buying Kansas City Southern in a deal valued at $25 billion, creating a rail giant that connects, Canada, the U.S. and Mexico.

On the economic data front, investors will get another look at the housing market on Monday when the National Association of Realtors releases existing home sales for February. Economists surveyed by Dow Jones are projecting a decline of 2.8%.TRENDING NOW

  1. Texas Roadhouse founder Kent Taylor dies at 65 after taking life following post Covid struggle
  2. The risky bitcoin buy that’s in a bigger bull market than the cryptocurrency itself
  3. Stock futures mixed as Wall Street looks to rebound from losing week
  4. Did you know the government owns a piece of your traditional 401(k) or IRA? How to get it back
  5. These 10 retailers are in expansion mode: Here’s who is opening new stores

by TaboolaSponsored LinksFROM THE WEBL.O.C.K. System Says Buy These 5 Tech Stocks NowAltimetryWhere to Invest $1,400The Motley FoolMORE FROM CNBC5 things to know before the stock market opens MondayNew hydrogen ETF aims to seize on an $11 trillion opportunity, Defiance ETFs CIO saysCramer says it’s a ‘good time to invest’ in stocks as U.S. economy recovers from CovidInvestors now fear inflation and the Fed more than Covid, Bank of America survey showsTop Wall Street analysts are unanimously bullish on these stocksThe risky bitcoin buy that’s in a bigger bull market than the cryptocurrency itselfFROM THE WEBL.O.C.K. System Says Buy These 5 Tech Stocks NowAltimetryGot $1,000 to Invest?The Motley FoolYour suspicions are correct: Something big is brewing in the marketInvesting Outlook  by Taboola MORE IN MARKETSInsurance stock Hartford spikes, trading halted after report of possible takeoverJesse PoundPlug Power dives after announcing it will restate financial resultsPippa StevensDow closes more than 200 points lower as banks sell off, breaks a two-week win streakYun Li,Jesse PoundYoung traders unlikely to buy GameStop stock with stimulus checks this time, Bank of America saysMaggie FitzgeraldDow climbs 189 points to close above 33,000 for the first time as Fed sticks to easy policyYun Li,Maggie Fitzgerald  by Taboola FROM THE WEBWhere should you invest $1,000 right now?Sponsored :The Motley FoolForget the 30yr mortgage if you owe less than $356K. (Do this instead)If you owe less than $356,362 on your home and haven’t missed a mortgage payment in 6 months, check out this mortgage stimulus program for the middle class. Tap here to Calculate a new house payment today.Sponsored :LowerMyBills NMLS#167283; 3306Tesla CEO Is Contributing to a $1 Billion Investment In This New TechnologySponsored:The Motley FoolL.O.C.K. System Predicts Stock Market CrashJoel Litman’s L.O.C.K. system predicted the March 2020 crash… Now it says another crash could be coming before April. And most Americans are woefully unprepared.Sponsored:AltimetrySee Why People with Diabetes Are Using This New AppSponsored:Dexcom  by Taboola FROM THE WEBThe Dead Giveaway That Tells You What Is Amazon’s Lowest PriceSponsored :Capital One ShoppingMan Who Bought Amazon at $48 Says Buy TaaS Now Wall Street legend Whitney Tilson says there’s a huge new tech trend coming – and he’s revealing his #1 pick for free.Sponsored :Empire Financial ResearchFinance PhD: “Dump Your Cash Now”Sponsored:Stansberry ResearchBuying Tesla Stock? Wait Until You See ThisWhile investors are obsessed with Tesla’s surge, legendary investor Whitney Tilson says an even bigger EV story will provide the highest gains.Sponsored:Empire Financial ResearchThe Dating Site for Highly-Educated Singles in CorrySponsored:EliteSinglesMORE FROM CNBC5 things to know before the stock market opens TuesdayMatthew J. Belvedere5 things to know before the stock market opens FridayMatthew J. BelvedereJim Cramer on his 2020 lessons: Do not bet on the end of the worldTyler CliffordPalantir CEO rips Wall Street as having a ‘destructive’ and ‘corrosive’ short-term focusKevin StankiewiczOne year ago stocks dropped 12% in a single day. What investors have learned since thenBob Pisaniabout:blankabout:blank

Social media & sharing icons powered by UltimatelySocial

Enjoy this blog? Please spread the word :)

Follow by Email
Scroll to Top