Traders work on the trading floor of the New York Stock Exchange on the afternoon of August 2, 2024 in New York City.
Michael M. Santiago | Michael M. SantiagoGetty Images
U.S. stock index futures fell late Sunday, with the Nasdaq Composite falling into retracement territory after a tumultuous week on Wall Street.
Dow Jones Industrial Average Futures Down 190 points, or 0.5%. S&P 500 Index Futures and Nasdaq 100 Futures fell 0.8% and 1.3% respectively.
Wall Street is coming out of trouble a brutal week Main average. The Nasdaq ended its third straight week of losses on Friday, leaving the tech-heavy index more than 10% below last month’s record.
The S&P 500 also fell for a third consecutive week, falling 2% for the week. Even the outperforming Dow Jones Industrial Average ended its four-week winning streak, falling 2%.
Treasury yields also fell sharply. Friday’s benchmark 10-year Treasury note Yield 3.79%down from 4.20% a week ago.
Stocks’ recent pullback intensified on Friday. Disappointing jobs report Stirring investor concerns about the Fed made a mistake Last week, interest rates were left unchanged and the economy is heading into recession.
Investors will now focus on whether this decline can be sustained. The S&P 500 is down 5.7% from its all-time high. The Dow Jones fell 3.9%.
“I think we’re in a correction, but we still think the bull trend is intact,” Keith Lerner, co-chief investment officer at Truist Wealth, told CNBC.end bell“Friday. “It just takes a little time to get through such turbulent times.
apple Warren Buffett’s Berkshire Hathaway will also be closely watched when markets open later on Monday Dumped nearly half Its stake in the iPhone maker.
Economic data released on Monday include the July ISM Services PMI, a measure of the performance of U.S. service companies, which is expected to rise to 50.9 from 48.8 previously.
Investors may learn how the Federal Reserve will raise interest rates in the coming week. San Francisco Fed President Mary Daly will speak at the Hawaii Executive Collaborative Conference after the close on Monday.