Dow futures steady; Thanksgiving week commences
Investing.com — US futures traded slightly lower on Sunday evening, following a three-week winning streak from major benchmark averages.
By 6:55: pm ET (11:55pm GMT) Dow Jones Futures remained flat while S&P 500 Futures and Nasdaq 100 Futures dipped 0.1% and 0.2%, respectively.
Both the Dow Jones Industrial Average and the S&P 500 marked their first three-week streak since July, with increases of 1.9% and 2.2% respectively last week. The NASDAQ Composite also saw a significant rise, finishing the week 2.4% higher, marking its best week since June.
The yield on the U.S. 10-year Treasury note ended at its lowest level since September 20 on Friday. This has led some traders to anticipate that Treasury yields will continue to vie with equities, becoming increasingly attractive to investors.
Despite this, market optimists remain hopeful as the year-end approaches. This optimism is particularly fueled by the recent U.S. inflation data, which came in below expectations last week. This has eased investor concerns over persistently high prices and suggests that the Federal Reserve may halt its interest rate hikes.
Ahead in the week, investors will be closely monitoring existing home sales, FOMC meeting minutes, core durable goods orders, Michigan consumer expectations and sentiment, as well as preliminary manufacturing and services PMIs.
In the lead-up to the shortened Thanksgiving week, traders are eagerly awaiting NVIDIA Corporation's (NASDAQ:NVDA) earnings and forward guidance, due out on Tuesday. The chipmaker, which has seen its stock price skyrocket this year amid the artificial intelligence frenzy, is predicted to surpass earnings and revenue estimates for the third quarter.
Friday's sudden departure of OpenAI's former CEO
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