Traders on the floor of the NYSE, July 1, 2022.
Stock futures were flat in overnight trading after the large averages ended another losing week.
Stock futures related to the Dow Jones Industrial Average fell 10 points or 0.03%. S&P 500 futures rose marginally higher, and Nasdaq 1[ads1]00 futures rose 0.19% higher.
The movements come as markets closed one of the worst halves in decades on Thursday, and major averages posted their fourth week with losses of five despite modest gains during Friday’s trading session.
Last week, despite modest Friday gains, the Dow fell 1.3%, the S&P 500 fell 2.2% and the Nasdaq fell 4.1%. During Friday’s trading, the Dow Jones Industrial Average rose 321.83 points, or 1.1%, to 31,097.26, the S&P 500 rose 1.1% to 3,825.33 and the Nasdaq Composite rose 0.9% to 11,127.85. .
In this shortened holiday week, investors are looking forward to the release of job report data from June to Friday. According to Dow Jones estimates, job growth probably slowed in June by 250,000 off-farm wage items, down from 390,000 in May. Surveyed economists expect unemployment to remain at 3.6 per cent.
This week’s financial calendar also includes Wednesday’s release of minutes from the Federal Reserve’s last meeting. May factory orders are expected on Tuesday, with earnings from WD-40 and Levi Strauss scheduled for Friday.
“With two consecutive quarters of negative economic growth, a central bank may seemingly set on aggressive austerity measures regardless of the economic and market backdrop, and signals of a more marked decline, an earnings season that surprises on the upside instead of the expected downside, could help . restore the appearance of stability in the markets, “said Quincy Krosby, Chief Strategist of LPL Financial.