Wall Street bounced back ahead of the opening bell Monday after a dismal week driven by uncertainty over some of President Donald Trump’s new economic measures.
Futures for the S&P 500 added 0.5% before the opening bell, while futures for the Dow Jones Industrial Average climbed 0.7%. Nasdaq futures gained 0.4%.
On Friday, the S&P 500 sank 1.7% for its worst day in two months after the release of weaker-than-expected U.S. economic data. The Dow Jones Industrial Average lost 1.7%, while the Nasdaq composite tumbled 2.2%.
Domino’s Pizza slid 3.3% in early trading after its fourth-quarter results fell short of Wall Street expectations, dragged down by slower U.S. sales growth.
Though corporate earnings slow to a trickle this week, several other high-profile companies — including Home Depot, Nvidia and Paramount — will report their most recent quarterly performances.
Also this week, the latest consumer confidence reading and a second estimate on fourth-quarter GDP. A closely watched report on inflation comes Friday.
Better-than-expected profit reports had been helping to offset worries about stubbornly high inflation, which could prevent the Federal Reserve from delivering more relief for the economy and financial markets through lower interest rates.
The Fed has been holding its main interest rate steady after sharply cutting it through the end of last year. At their last policy meeting in January, Fed officials suggested they may stay on hold for a while given worries about how Trump’s proposed tariffs and mass deportations of migrants, along with other factors, could push upward on inflation.
While lower rates can boost the economy, they can also encourage spending that puts upward pressure on inflation.
German shares advanced after conservatives won an election dominated by concerns about Europe’s largest economy. The DAX jumped 0.7% after provisional results confirmed that mainstream conservatives led by Friedrich Merz won the national election, while a far-right party surged to become the nation’s second-largest.
In Paris, the CAC 40 shed 0.3% while Britain’s FTSE 100 was largely unchanged.
Markets were closed in Tokyo for a holiday.
In other Asian trading, Hong Kong’s Hang Seng index wavered before closing down 0.6% higher at 23,341.61. The Shanghai Composite index shed 0.2% to 3,373.03.
Australia’s S&P/ASX 200 gained 0.1% to 8,308.20. South Korea’s Kospi lost 0.4% to 2,645.27, while the Taiex in Taiwan fell 0.7%. India’s Sensex also declined 0.7%.
EMEA Tribune is not involved in this news article, it is taken from our partners and or from the News Agencies. Copyright and Credit go to the News Agencies, email news@emeatribune.com Follow our WhatsApp verified Channel
