Market Snapshot: Stock-index futures gain ground after three-week losing streak

by | Aug 21, 2023 | Stock Market

U.S. stock futures moved higher early Monday, as Wall Street looks to snap a three-week losing streak.How are stock-index futures trading
S&P 500 futures
rose 15 points, or 0.3% to 4397

Dow Jones Industrial Average futures
gained 79 points, or 0.2% to 34644

Nasdaq 100 futures
rose 86 points, or 0.5% to 14830

On Friday, the Dow Jones Industrial Average
rose 26 points, or 0.07%, to 34501, the S&P 500
declined 1 points, or 0.01%, to 4370, and the Nasdaq Composite
dropped 26 points, or 0.2%, to 13291.

What’s driving markets Futures are striving to find their footing as Wall Street comes off a three-week losing streak. “Global markets have recently experienced a series of stumbles due to concerns about China’s economy and higher sovereign bond yields. Last week the S&P 500 dropped 2.1 %, worryingly, with every sector ending in the red,” noted Stephen Innes, managing partner at SPI asset management. Niether of those factors are providing much succour early Monday. A trimming of interest rates over the weekend by China’s central bank has underwhelmed the market, while the 10-year Treasury yield is up about 4 basis points to 4.29%, holding near 15-year highs. The rising borrowing costs have been a particular pr …

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