Stock futures rise ahead of a big week of retail earnings
Stock futures were higher Sunday evening after a week of steep losses that ended on a high note, and ahead of a big earnings week for retailers.
Futures tied to the Dow Jones Industrial Average rose 100 points, or 0.3%, while S&P 500 futures added 0.4%. Nasdaq 100 futures jumped 0.8%.
On Friday, the Dow rose 466.36 points, or 1.47%, while the S&P 500 climbed 2.39%. The Nasdaq Composite jumped 3.82% and posted its strongest one-day gain since November 2020. Still, all three averages posted losing weeks.
The gains came as investors went into relief rally mode to cap off a bad week for stocks in which the S&P 500 nearly descended into bear market territory.
It remains to be seen, however, how long the rally will last or how much further stocks have to fall before this year's downtrend bottoms.
«Given the history of bear markets, coupled with the fact that the Fed has just begun its rate hike cycle and would like to see financial conditions continue to tighten so that demand pulls back further, this rally will most likely weaken,» said Quincy Krosby, chief equity strategist for LPL Financial.
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Still, some investors and analysts say, whether or not the bottom is in, there are good buying opportunities at the market's current lows.
«I'm not calling the bottom here, but there's some opportunity here to dollar cost average,» said Sylvia Jablonski, CEO and chief investment officer at Defiance ETFs, told CNBC. «If you're sitting on a bunch of cash, you're
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