Stock futures are stable as S&P 500 and Nasdaq are recorded

Stock futures are stable as S&P 500 and Nasdaq are recorded

U.S. equity futures were flat in overnight trading on Sunday as investors braced for the closing trading days of August.

Dow futures contracts rose only 4 points. S&P 500 futures were little changed and Nasdaq 100 futures were trading around the flat line.

The stock could stay in a narrow range until the August jobs report is released on Friday. Economists polled by the Dow Jones predict the creation of 750,000 jobs in August and a drop in the unemployment rate to 5.2%.

Monday and Tuesday are the last two working days in August. So far, the S&P 500 is up 2.6% in August. The Dow Jones Industrial Average and the Nasdaq Composite rose 1.5% and 3.1% respectively this month.

The S&P 500 and Nasdaq Composite closed at all-time highs on Friday as Federal Reserve Chairman Jerome Powell indicated bond reduction could begin this year, but the central bank is in no rush to raise prices. interest rate.

Powell said inflation hovers around the central bank’s 2% target rate, one of the Fed’s dual-mandate targets; However, the Fed chairman also explained why he believes the current growth in inflation is temporary and will eventually fall to the target level.

Based on statements from other Fed officials, a thin announcement could come as early as the Fed meeting on September 21-22. Powell said the central bank had “a lot to cover” to meet its other maximum employment target.

Friday’s gains added to a strong week for key averages. The Dow Jones ended up 0.9%, while the S&P 500 was up 1.5% and the Nasdaq Composite 2.8% last week.

With the Fed’s Jackson Hole meeting in retreat, investors are now focusing on the direction of the stock for the final months of the year. The S&P 500 is up more than 20% in 2021, but the market is also absorbing spikes in political stimulus, peak earnings acceleration, and spike in reopening momentum.

Oil futures rose slightly as the commodity reacted minimally to Hurricane Ida. WTI crude futures rose 0.8%.

Cloudera and Zoom Video announced profits after the bell on Monday.

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