Stock futures are little changed after a sluggish start in October: Live Update
Stock futures were quiet Sunday evening as Wall Street looked to maintain momentum from Friday's rally.
S&P 500 futures 0.1% is added. Nasdaq 100 Futures were up about 0.2%, while Dow Jones Industrial Average Futures Tick up 53 points, or about 0.1%.
The move in futures comes after a bumpy week for stocks that saw the major averages eke out modest gains. The S&P 500 added 0.22% for the week, while the Nasdaq Composite added 0.10% and the Dow added 0.09%.
It was the fourth winning week in a row for the three averages, helped by a stronger-than-expected jobs report on Friday that gave further support to the idea that the Federal Reserve could pull off a “soft landing” for the US economy. The Dow closed at record highs after the report.
“Two old adages on Wall Street: Don't fight the trend and don't fight the Federal Reserve. … These are two key pillars for today's equity markets,” Keith Lerner, co-chief investment officer at Truist Wealth, said in a message. Note Friday.
However, Lerner warned that the upcoming US presidential election and the possibility of a so-called “October surprise” could keep market volatility elevated in the coming weeks.
Investors will be keeping an eye on international news this week, with tensions still lingering in the Middle East.
On the economic front, key releases next week include the Federal Reserve meeting minutes on Wednesday and the Consumer Price Index report on Thursday. Earnings season is also starting to heat up, with results Delta Air Lines And JP Morgan Chase Out Thursday and Friday respectively.