Stock futures rise in the first trading week

Stock futures have gone down Monday evening as traders braced themselves for economic data.

Futures with respect to the Dow Jones industrial average fell by 72 points or 0.2%. S&P 500 futures lost 0.28%, and Nasdaq 100 futures lost 0.44%.

All significant averages finished in 2022 with a bad loss since 2008, each snapping a three-year win. Dow Jones ended the year down about 8.8% at 33,147.25 and 10.3% off its 52-week high.

S&P 500 has lost 19.4% for the year and now is at 3839.50, which would be more than 20% below its recorded height. The tech-heavy Nasdaq came down 33.1% last year.

Inflation rising, “the worst defeat for both stocks and bonds in decades,” was the most prominent investors’ narrative for 2022, according to Greg Bassuk, CEO of AXS investments.

The new year started with many worries, and inflation could push the economy into recession.
He further said that 2022 was characterized by an inflation blind siding market route in the past because the year started off with wall street and the main street both expecting a containment on increasing prices and the federal reserve that would hold rates at the lower levels.

An opposite reality could be told as inflation increases.

Moving into 2023, as prices remain high, investors should consider inflation-sensitive assets and cyclical and other stocks that tend to do well in rising prices.

They are also looking forward to Friday’s December job reports and the final employment report that the Fed will have to consider before its next meeting on Feb 1.

S&P global manufacturing PMI and construction spending are due at 9.45 am and 10.00 am on Tuesday.

Investors have been getting a bundle of data at the start of the year and will be looking closely for opportunities to adjust their portfolios to recover from 2022.

Walgreens boots alliance and constellation brands will also speak about their financial results on Thursday. It is otherwise a quiet week for earning reports.

The first quarter will determine how good or bad the year will be.

Heading into the year, there will be an unusually high consensus among wall street strategists in their stock market outlooks.

The standard scene is that the stock market is going to perform poorly in the first quarter and probably the second.

Stock futures rise at the start of trading Monday evening. Dow Jones industrial average futures increased 229 points or 0.69%. S&P 500 futures added 0.85%, and Nasdaq 100 futures rose 0.96%.

- Published By Team Timeswire

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