NYSE Floor Traders July 1, 2022
Source: NYSE
Stock futures rose in overnight trade after the major averages ended another losing week.
Stock futures tied to the Dow Jones Industrial Average rose 18 points, or 0.06%. S&P 500 futures rose 0.18% and Nasdaq 100 futures added 0.43%.
The moves come after markets ended one of their worst halves in decades on Thursday and the major averages posted their fourth week of losses in five, despite modest gains during Friday’s trading session.
Last week, despite modest gains on Friday, the Dow fell 1.3%, the S&P 500 fell 2.2% and the Nasdaq fell 4.1%. In Friday’s trading session, the Dow Jones Industrial Average added 321.83 points, or 1.1%, to 31,097.26, the S&P 500 gained 1.1% to 3,825.33 and the Nasdaq Composite rose 0. 9% to 11,127.85.
In this shortened holiday week, investors await the release of the June jobs report on Friday. Dow Jones estimates job growth likely slowed in June with 250,000 nonfarm payrolls added, down from 390,000 in May. Economists polled expect the unemployment rate to remain at 3.6%.
The economic calendar for this week also includes the publication on Wednesday of the minutes of the last meeting of the Federal Reserve. May factory orders are expected on Tuesday, with earnings from WD-40 and Levi Strauss scheduled for Friday.
CNBC Pro Stock Picks and Investing Trends:
“With two quarters of consecutive negative economic growth, the Federal Reserve appearing intent on aggressive tightening regardless of economic and market conditions, and signs of a more pronounced slowdown, an earnings season that surprises on the upside rather than the expected decline could to help restore some semblance of stability to the markets,” said Quincy Crosby, chief equity strategist for LPL Financial.
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