The main US index futures are pointing to a slightly lower open on Monday as traders digest the possible escalation of the Russia-Ukraine war and look forward to the upcoming reporting season.
The main US averages advanced the week ending October 7th despite the weakness seen in the later part of the week ending October 7th. The positive performance was driven by Monday and Tuesday’s strong rally amid expectations that the Fed would soften its hawkish tone. Sentiment plummeted later in the week, with weakness exacerbated on Friday on a strong jobs report and a negative forecast of Advanced Micro Devices, Inc. AMD.
After a dismal performance in the third quarter, the market could see some recovery in the last quarter of the year.
“The third quarter pullback reflected actual changes in policy and risk. Looking ahead, while these risks will remain, most of them are likely to feed into markets, meaning further impact should be limited,” said Brad McMillan, chief investment officer of the Massachusetts-based Commonwealth Financial Network .
“Big picture, the third quarter was very difficult on many levels and September’s performance was particularly poor. But unless we see fundamentals continue to deteriorate (and we don’t see that), the fourth quarter could end up better,” he added.
| index | Performance (+/-) | value | |
|---|---|---|---|
| Nasdaq Composite | +0.73% | 10,652.40 | |
| S&P 500 Index | +1.5% | 3,639.66 | |
| Dow Industrials | +1.99% | 29,296.79 |
Here’s an inside look at index futures trading:
| index | Performance (+/-) | |
|---|---|---|
| Nasdaq 100 futures | -0.30% | |
| S&P 500 futures | -0.16% | |
| Dow futures | -0.09% | |
| R2K futures | -0.06% |
in the premarket Trading on Monday the SPDR S&P 500 ETF TrustSPY pushed down…
