U.S. stock futures pointed to an extension of last week’s gains, buoyed by data showing a slowing economy that in turn could limit the magnitude of Federal Reserve rate hikes.What’s happening
Futures on the Dow Jones Industrial Average
YM00,
+0.31%
rose 120 points, or 0.4%, to 31607.
Futures on the S&P 500
ES00,
+0.45%
gained 20.75 points, or 0.5%, to 3937.
Futures on the Nasdaq 100
YM00,
+0.31%
increased 82.75 points, or 0.7%, to 12223.
Last week, the S&P 500
SPX,
+3.06%
jumped 6% to snap a three-week losing run. The Dow Jones Industrial Average
DJIA,
+2.68%
rose 5%, and the tech-heavy Nasdaq Composite
COMP,
+3.34%
gained 7%.
What’s driving markets Strategists at Credit Suisse say bond yields may have seen their peak, particularly for Treasury-inflation protected securities, which in turn means the dollar
DXY,
-0.23%
is close to its summit. They say their lead indicators are consistent with 0% GDP growth, as evidenced by the collapse in housing affordability, the weakness of corporate confidence and the weakness in the employment gauge of the Institute for Supply Management manufacturing index. JPMorgan quantitative strategist Marko Kolanovic published a note saying the market could rise 7% this week, due to the need for portfolios t …