Market Snapshot: U.S. stock futures start August on the back foot after five-month winning streak

by | Aug 1, 2023 | Stock Market

U.S. stock futures on Tuesday pulled back from 16-month highs as caution prevailed after a five-month winning streak.How are stock-index futures trading
S&P 500 futures
dipped 13 points, or 0.3%, to 4601

Dow Jones Industrial Average futures
fell 104 points, or 0.3%, to 35591

Nasdaq 100 futures
eased 60 points, or 0.4%, to 15798

On Monday, the Dow Jones Industrial Average
rose 100 points, or 0.28%, to 35560, the S&P 500
increased 7 points, or 0.15%, to 4589, and the Nasdaq Composite
gained 29 points, or 0.21%, to 14346.

What’s driving markets Markets were starting August in cautious mood, taking a breather after recording a five-month winning streak, the best such run in two years. News out of China — where reports showed factory activity contracting, home sales plunging and Country Garden
one of the biggest property developers, abandoning a share placement — was suppressing risk appetite, lifting the U.S. dollar
and pushing lower the prices of industrial commodities such as oil
and copper
Still, the S&P 500
SP …

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