Strategic Wealth Partners wealth adviser Luke Lloyd and Surevest CEO Rob Luna weigh in on the growing influence of retail investors and the state of Big Tech stocks.
U.S. stock futures rose in early trading Monday as investors position themselves ahead of key testimony on the state of the economy from Federal Reserve Chairman Powell on Tuesday.
Dow futures were higher by nearly 100 points or 0.62%. S&P and Nasdaq futures also rose in tandem.
AMAZON PRIME DAY, GAMESTOP’S RUSSELL FATE, NIKE EARNINGS TOP WEEK AHEAD
The upcoming week includes earnings from big names including Nike and FedEx, along with a fresh batch of economic reports, including GDP, which may be the strongest read in years.
Investors are dipping back into stocks after Friday’s drop prompted by St. Louis Fed President James Bullard’s comment to CNBC that a rate hike could come next year – ahead of the Fed’s 2023 target disclosed Wednesday. The yield on the 10-year note slipped below 1.45% and closed at its lowest level since March 2.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 33290.08 | -533.37 | -1.58% |
| SP500 | S&P 500 | 4166.45 | -55.41 | -1.31% |
| I:COMP | NASDAQ COMPOSITE INDEX | 14030.375849 | -130.97 | -0.92% |
The Dow Jones Industrial Average fell 532 points, or 1.57%, declining for a fifth straight day, while the S&P 500 and the Nasdaq Composite lost 1.31% and 0.92%, respectively.
