Futures rise with Jackson Hole ahead, Zoom to report - what's moving markets
Investing.com -- Stock futures inch into the green, hinting at an early rebound for equities following a losing week on Wall Street. Video conferencing group Zoom is due to report its latest quarterly earnings on Monday, while semiconductor giant Nvidia is on deck to unveil results on Wednesday. Elsewhere, China rolls out a new lending rate cut, but policymakers still face calls to do more to support the country's sputtering economic recovery.
1. Futures point higher
U.S. stock futures edged up on Monday, with the major indices on Wall Street coming off a losing week that featured surging bond yields and deepening worries over China's post-pandemic recovery.
At 05:15 ET (09:15 GMT), the Dow futures contract had moved higher by 102 points or 0.3%, the S&P 500 futures contract gained 19 points or 0.4%, and the Nasdaq 100 futures rose by 94 points or 0.6%.
Following a mixed session on Friday, the benchmark S&P 500, tech-heavy Nasdaq Composite, and the 30-stock Dow Jones Industrial Average all posted weekly declines. Equities came under pressure from a jump in bond yields that partly stemmed from waning hopes that the Federal Reserve will soon begin to back away from its long-standing monetary tightening campaign. Prices typically dip as yields rise.
As the new trading week begins in the U.S., investors will be looking ahead to comments on Friday from Fed Chair Jerome Powell at an annual symposium in Jackson Hole, Wyoming.
Meanwhile, weak economic releases have added fuel to concerns over how long it will take China to fully rebound from draconian COVID-19 rules. Calls for Beijing to roll out more stimulus to help spur demand in the world's second-largest economy have been intensifying, yet officials remain wary about
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