The index futures are pointing to a moderately higher opening on Monday, as traders strive to shake off the negativity engendered by worries concerning the economy, inflation and interest rates.
The major U.S. averages closed the week ended Dec. 16 notably lower, amid Fed’s hawkish tone that came through the dot plots and a few weak economic data set in motion a steep sell-off since Wednesday. All three indices closed at their lowest since early November, tempering hopes of a year-end Santa Claus rally.
| Index | Performance (+/-) | Value | |
|---|---|---|---|
| Nasdaq Composite | -2.72% | 10,705.41 | |
| S&P 500 Index | -2.09% | 3,852.36 | |
| Dow Industrials | -1.66% | 32,920.46 |
Here’s a peek into index futures trading:
| Index | Performance (+/-) | |
|---|---|---|
| Nasdaq 100 Futures | +0.44% | |
| S&P 500 Futures | +0.43% | |
| Dow Futures | +0.33% | |
| R2K Futures | -0.61% |
In premarket trading on Monday, the SPDR S&P 500 ETF Trust SPY rose 0.49% to $385.14 and the Invesco QQQ Trust QQQ gained 0.48% to $274.90, according to Benzinga Pro data.
On the economic front, the National Association of Home Builders will release its housing market index for December at 10 a.m. EST. Economists, on average, expect the index to edge up to 34 from 33 in November.
The Treasury will auction 3-month and 6-month bills at 11:30 a.m. EST.
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Stocks In Focus:
- Tesla, Inc. TSLA shares were bouncing back by over 4% in premarket trading after a poll run by CEO Elon Musk showed that most supported him giving up on the Twitter CEO role.
- Shares of COVID-19 vaccine …….
