S&P 500 futures are little changed as stocks return to start the new week: Live Update
Traders work on the floor of the New York Stock Exchange during morning trading on September 23, 2024 in New York City.
Michael M. Santiago Getty Images
Stock futures were little changed on Monday night, following a losing day on Wall Street as rising oil prices and bond yields weighed on markets.
Dow Jones Industrial Average Futures 33 points lost. S&P 500 futures And Nasdaq 100 futures Business near each flat.
The after-hours action comes after a negative day for stocks. D Dao When finished, about 400 points less S&P 500 Slide around 1%. Technology stocks felt the brunt of Monday's decline, pushing Nasdaq Composite About 1.2% less.
Rising bond yields put downward pressure on markets. Notably, the 10-year Treasury Yields climbed above 4% to touch the highest level since early August. Bond yields and prices move inversely with each other.
West Texas Intermediate Oil futures moving above $77 a barrel also hurt the stock market. But energy names climbed alongside commodities, making it the only sector of the 11 comprising the S&P 500 to finish in the green on Monday.
Stocks have struggled over the past several days, making for a tough start to the new trading month and quarter. Investors have become increasingly concerned about an escalation of conflict in the Middle East after Iran launched a missile attack on Israel earlier last week.
But markets rallied on Friday after a blockbuster jobs report, prompting all three major indexes to notch their fourth positive week. The Dow hit a new all-time closing high on Friday.
“Initially, the market rallied on that really good economic news,” said Larry Tentarelli, chief technical strategist at Labor Market Data's Blue Chip Daily Trend Report. “I think what you've got now is the market adjusting to higher bond yields.”
Investors will watch Tuesday for economic data on small business and the trade deficit. They will oversee speaking engagements throughout the day for central bank leaders, including Boston Federal Reserve President Susan Collins and Atlanta Fed President Raphael Bostick.