S&P 500 futures was trading higher yesterday night and is showing increasing signs, as Wall Street tried to build on the previous week’s momentum.
Dow Jones futures gained 36 points. S&P 500 and Nasdaq 100 futures gained 0.3% and 0.8%. The USA stock market didn’t open yesterday because of the Memorial Day holiday.
Those numbers follow the finest weekly increases for the Dow Jones and S&P 500 Futures since November 2020.
The Dow Jones closed 6.2% for the week, finishing an eight-week dropping streak. The S&P 500 showed an increase of 6.5%, and the Nasdaq 100 futures gained 6.8% on the week, closing positive after seven consecutive weeks of losses. Solid earnings from the retail sector, and an inflation report that indicated prices could be easing, boosted investor confidence.
The Investment Strategist of Strategas, Ryan Grabinski said in a report, “We could get some sharp snapbacks in stocks that won’t represent a true turning point for the market. The building of a bear market is a process, and we could still decline further.”
