U.S. stock index futures were flat during overnight trading Sunday, after the S&P 500 posted a third straight week of gains.
Futures contracts tied to the Dow Jones Industrial Average slid 14 points. S&P 500 futures were flat, while Nasdaq 100 futures declined 0.14%.
Stocks advanced on Friday — the first day of the second quarter — with the Dow and S&P gaining 0.4% and 0.34%, respectively. The Nasdaq Composite added 0.29% and also finished the week in the green.
The Dow, meantime, snapped a two-week winning streak, falling 0.12%.
Friday's positive session came despite March's employment report, which fell short of economists' estimates. The U.S. economy added 431,000 jobs during the month, while estimates from Dow Jones called for 490,000.
These are JPMorgan’s top stock picks for April
Now that the key yield curve has inverted, here's what typically happens to stocks next
Investment banks love these 'cheap' stocks they say are set to outperform
«Strong gains on the employment front continue to signal a green light for investors despite multi-decade highs in inflation and concerns over higher rates and Fed tightening,» noted Peter Essele, head of portfolio management for Commonwealth Financial Network. «The economy appears to be in exit velocity mode, with the only concern being the amount of labor supply available to fuel the robust recovery,» he added.
An often-cited recession signal was triggered Thursday evening when the the 2-year and 10-year treasury yields inverted for the first time since 2019.
«We think the current flattening is due to the concern that the Fed is behind the curve on hikes and will tighten policy beyond neutral, which will hurt growth,» TD Securities said in a note to clients.
Investors are also
Read more on cnbc.com