Stock futures are little changed ahead of a big week of economic data
Stock futures were little changed Sunday evening as investors look ahead to a series of key economic reports and continue to keep a close eye on the Federal Reserve's planned interest rate hikes.
Futures tied to the Dow Jones Industrial Average inched higher by 14 points, or 0.03%. S&P 500 futures added 0.06% and Nasdaq 100 futures were 0.07% higher.
The Dow and S&P rose in the previous session to close out their second consecutive winning week. The Dow gained 153 points, or 0.4%. The S&P 500 advanced 0.5% and has more than erased its losses since Russia invaded Ukraine in late February. Meanwhile, the Nasdaq Composite dipped 0.2% but still finished the week in the green.
The moves came as investors continue to monitor developments in Russia's war on Ukraine and expectations about the Fed's plans to hike interest rates.
«It seems the skyrocketing move higher with commodity prices has taken a break and that has allowed investors a chance to pile back into equities,» said Edward Moya, senior market analyst at Oanda. «Geopolitical risks remain very elevated and the rally in equities over the past two weeks is impressive. The U.S. economy is still in good shape, but buying every stock market dip probably won't be the attitude for most traders going forward given how hawkish the Fed has turned.»
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