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A trader works on the floor at the New York Stock Exchange on December 2, 2024.
Brendan McDermid | Reuters
Stock futures were quiet on Sunday afternoon, with the Dow snapping a seven-day losing streak in a week highlighted by a key central bank meeting.
Futures linked Dow Jones Industrial Average They decreased by 7 points, or less than 0.1%. S&P 500 futures They were less than 0.1%. Nasdaq 100 futures It decreased by 0.1%.
The stock market is coming off a slow week. The Dow It lost 1.8% last week, and has lost ground in each of the last seven sessions. The S&P 500 Down 0.64%, and has retreated in four of the last five sessions. The Nasdaq Composite has had a higher performance, obtaining a profit of 0.34% for the week.
After President-elect Donald Trump’s victory in November, stocks appear to have returned to a tech-led narrow move in recent days.
“The breadth that we’re seeing is starting to dissipate a little bit. It’s becoming a much more concentrated rally within a few names. And I don’t know how long that can last, but there’s a chance that it’s going to at least get going by the end of the year,” said Joe Mazzola, Charles Schwab- ‘s chief trading and derivatives strategist on Friday”Closing Bell: Overtime.”
The main draw this week is the Federal Open Market Committee meeting on Tuesday and Wednesday, when Federal Reserve officials are expected to cut the benchmark interest rate again.
On Monday, investors will get an update on economic data, with preliminary purchasing manager index readings due out before the bell.
And at the level of individual stocks, stocks Microstrategy The Bitcoin proxy could be on the move after it was announced as a new addition to the Nasdaq 100 index.
