Dow Futures Tick Higher After Indices Extend Rout

By Oliver Gray 

Investing.com - U.S. stock futures were trading higher during Monday’s evening deals, after major benchmark indices extended declines for the 5th consecutive session as investors continue to retreat amid higher interest rates and growing recession concerns.

By 19:20 ET (23:20 GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were trading up 0.2% apiece.

Ahead in Tuesday's session, market participants will be focused on CB consumer confidence, house price index, and durable goods orders.

Meantime, growing currency risks are further dampening risk sentiment as the US Dollar surged to fresh record highs against the Pound Sterling and to 20-year highs against the Euro following the U.S. Federal Reserve’s aggressive interest rate hikes last week.

During Monday’s regular trade, the Dow Jones Industrial Average fell 329.6 points or 1.1% to 29,260.8, falling to the lowest level since November 2020. The S&P 500 fell 38.2 points or 1% to 3,655.04 to close at its lowest levels since December 2020, while the NASDAQ Composite dipped 65 points or 0.6% to 10,802.9 and extending to 3-month lows.

On the bond markets, United States 10-Year rates were at 3.928%, slightly below fresh 12-year highs.

 

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