Stock futures were lower in early morning trading Monday following a losing week as investors continued to grapple with the resurgence of Covid cases and an upcoming shift in the Federal Reserve’s easy monetary policy.
Futures on the Dow Jones Industrial Average dropped 420 points, or 1.19%. S&P 500 futures dipped 1.25% and Nasdaq 100 futures declined 1.24%.
The major averages are coming off a negative week, with the S&P 500 declining 1.9%. The tech-heavy Nasdaq Composite dropped nearly 3% last week as investors dumped high-flying growth stocks on the prospect of higher interest rates, while the Dow slipped 1.7%.
Some investors are hoping for a Santa Claus rally into the year-end, which calls for positive market performance in the last five trading days of the year and first two trading days of January, according to Stock Trader’s Almanac.
“On the one hand, corners of the market are oversold,” Adma Crisafulli, founder of Vital Knowledge, said in a note. However, “the aggressive ‘buy the dip’ mentality, which proved so profitable for the last 1.5+ years, especially in the high-multiple corners of the market, was underwritten by a tidal wave of stimulus that is now receding.”
Last week, the Fed announced a more aggressive plan to wind down its asset purchases, and said that it will potentially raise interest rates three times next year.
Despite the losses last week, the S&P 500 is still up 1.2% this month, bringing its 2021 gains to 23%. The tech-heavy Nasdaq is down 2.4% in December so far, however, as technology names sold off. The blue-chip Dow has gained 2.6% this month.
The omicron virus is raging across the world as the winter holiday season approaches. The strain has been found through testing in 43 out of 50 U.S. states and around 90 countries, and the number of cases is doubling in 1.5 to 3 days in areas with community transmission, the World Health Organization (WHO) said on Saturday.
On the political front, Sen. Joe Manchin, a conservative Democrat from West Virginia, said Sunday he won’t support the Biden administration’s “Build Back Better” plan. Manchin’s decision will likely kill the $1.75 trillion social spending and climate policy bill as it stands now.
Investors continued to assess the impact from the pandemic and an upcoming shift in easy monetary policy.
Valuable info. Lucky me I found your site by accident, and I’m shocked why this accident did not happened earlier! I bookmarked it.
I have observed that rates for online degree gurus tend to be a fantastic value. Like a full Bachelor’s Degree in Communication in the University of Phoenix Online consists of 60 credits with $515/credit or $30,900. Also American Intercontinental University Online makes available Bachelors of Business Administration with a complete education course element of 180 units and a cost of $30,560. Online degree learning has made getting the college degree much simpler because you might earn the degree in the comfort in your home and when you finish working. Thanks for all tips I have really learned from your site.
The things i have observed in terms of computer memory is the fact that there are technical specs such as SDRAM, DDR and many others, that must match up the specific features of the mother board. If the pc’s motherboard is kind of current and there are no computer OS issues, improving the memory literally takes under sixty minutes. It’s among the list of easiest laptop upgrade methods one can visualize. Thanks for spreading your ideas.
Howdy! I know this is kind of off topic but I was wondering which blog platform are you using for this site? I’m getting sick and tired of WordPress because I’ve had issues with hackers and I’m looking at alternatives for another platform. I would be fantastic if you could point me in the direction of a good platform.
F*ckin?awesome things here. Ię¦ very glad to peer your article. Thanks so much and i am looking ahead to touch you. Will you kindly drop me a e-mail?
Excellent post. I was checking constantly this blog and I’m impressed! Very helpful info particularly the last part š I care for such info much. I was looking for this certain info for a long time. Thank you and best of luck.
I simply could not leave your website before suggesting that I actually loved the standard info a person provide in your visitors? Is going to be again ceaselessly to check out new posts
Hello there! I could have sworn I’ve been to this site before but after browsing through some of the post I realized it’s new to me. Anyhow, I’m definitely delighted I found it and I’ll be book-marking and checking back frequently!
Pretty section of content. I just stumbled upon your site and in accession capital to assert that I acquire actually enjoyed account your blog posts. Any way I will be subscribing to your feeds and even I achievement you access consistently quickly.
Hey There. I discovered your blog the usage of msn. That is a very well written article. I will be sure to bookmark it and come back to read more of your useful information. Thanks for the post. I will certainly comeback.
Hello this is kind of of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML. I’m starting a blog soon but have no coding skills so I wanted to get advice from someone with experience. Any help would be greatly appreciated!
I know this if off topic but I’m looking into starting my own blog and was curious what all is required to get set up? I’m assuming having a blog like yours would cost a pretty penny? I’m not very web smart so I’m not 100 positive. Any suggestions or advice would be greatly appreciated. Cheers
I’m still learning from you, while I’m improving myself. I absolutely love reading all that is written on your website.Keep the information coming. I loved it!