U.S. stock futures dipped slightly on Monday morning following last week’s impressive gains. The S&P 500 and Nasdaq 100 futures were down approximately 0.29% and 0.25%, respectively, at 3:30 a.m. EST. Similarly, Dow Jones Industrial Average futures also saw a decrease of 0.27%.
During the previous week, both the S&P 500 and Dow Jones surpassed the 5,700 and 42,000 thresholds for the first time. This surge was powered by the Federal Reserve’s first interest rate reduction in four years. Market participants are now looking forward to significant economic data releases scheduled for Monday.
Among these, S&P Global is set to release reports related to the manufacturing and services sectors. Additionally, statements from the Federal Reserve Presidents of Atlanta, Chicago, and Minneapolis will be monitored closely for insights regarding the central bank’s future actions. On Monday, the U.S. 10-year Treasury yield increased, hovering around 3.758%.
Futures decline following recent gains
WTI crude oil futures are also on the rise, staying close to $71.30 per barrel. In the realm of corporate earnings, Micron Technology is expected to disclose its results on Wednesday.
On Thursday, Accenture and Costco will reveal their earnings. European markets commenced the week on a slight upswing, buoyed by the Fed’s recent rate cut.
Markets in the Asia Pacific region exhibited mixed results on Monday. The People’s Bank of China held its benchmark lending rates steady last week. Hong Kong’s Hang Seng Index fell by 0.07%.
In contrast, China’s Shanghai Composite Index and the Shenzhen Component Index increased by 0.44% and 0.10%, respectively. Meanwhile, trading in Japan was suspended due to the Autumnal Equinox holiday.
