Futures for the Dow Jones Industrial Average increased 0.3 percent, or 113 points. The S& P 500 futures rose 0.5 percent, while the Nasdaq 100 futures rose 0.6 percent./h3>
Stock futures in the United States gained on Monday morning, after a significant bounce last week from this year’s sharp falls. Despite the rebound, Wall Street is bracing for the worst first half in stock market history.
These changes came after a remarkable rebound week in which the Dow industrials gained more than 800 points, or 2.7 percent. The S& P 500 gained 3.1 percent, while the Nasdaq Composite gained 3.3 percent.
These improvements contributed to the main averages having their first positive week since May. Last week, the Dow gained 5.4 percent. The S& P 500 rose 6.5 percent, while the Nasdaq Composite gained 7.5 percent.
The S&P 500 is up 7.5 percent since reaching a bear-market low in mid-June, but it is still down 19 percent from its peak and 18 percent since the start of the year.
Market players continued to examine whether equities had reached a bottom or were just recovering from oversold circumstances. Stocks may continue to rise in the short term this week as investors adjust their portfolios at the end of the quarter.
“In a sense, the equities market is going to remain… in a go-nowhere-fast mode for the foreseeable future,” said Terry Sandven, chief equity strategist at US Bank Wealth Management, on Friday.
“Inflation is on the rise, mood is low, liquidity is dwindling, and profits are both a bright light and a wildcard.” So, in aggregate, it signals to us that we’re probably going to be in a sideways trend for a long,” Sandven noted.
On the economic front, Wall Street anticipates the latest reading of durable goods orders to be released Monday before the market opens.
Traders are also anticipating the upcoming home sales data, which is set to be released at 10 a.m. ET on Monday.