Traders work on the floor of the New York Stock Exchange on December 2, 2024.
Brendan McDiarmid | Reuters
Stock futures were calm on Monday morning, with the Dow Jones Industrial Average beginning its seventh straight day of losses this week as major central bank meetings were highlighted.
futures tied to Dow Jones Industrial Average It rose 49 points, or about 0.1%. S&P500 futures The rate of increase was also less than 0.1%. Nasdaq 100 futures Just above the flat line.
The stock market is coming off a weak week. of Dow It fell 1.8% last week and has underperformed in each of the past seven sessions. of S&P500 It fell by 0.64%, falling in four of the past five periods. of Nasdaq Composite It outperformed, rising 0.34% for the week.
The stock market, which rose broadly following President-elect Donald Trump’s victory in November, appears to have returned to a narrow, tech-driven move in recent days.
“The breadth that we’re seeing is really starting to disappear a little bit. It’s becoming more of a concentrated rally among a small number of names. And we don’t know how long it will last, but there’s at least a chance it will last to the end. “Yes,” Joe Mazzola, head trading derivatives strategist at Charles Schwab & Co., said Friday on “Closing Bell: Overtime.”
This week’s highlight is the Federal Open Market Committee meeting on Tuesday and Wednesday, where Fed officials are widely expected to cut benchmark interest rates again.
Investors will get the latest economic data on Monday, with preliminary Purchasing Managers Index numbers expected to be released before the bell.
And at the individual stock level, micro strategy Bitcoin proxies could be on the move after being announced as a new addition to the Nasdaq 100 index.
