U.S. stock futures rose slightly at the start of trading this week, after the Nasdaq fell more than 2% in the last session of last week, recording a sixth straight day of losses, as Nvidia shares collapsed 10%.
S&P 500 futures rose 0.2%, Nasdaq 100 futures rose about the same, and the Dow Jones added about 66 points, or 0.2%.
The Nasdaq Composite Index fell for a sixth straight session on Friday, April 19, its longest losing streak in more than a year. The technology-heavy index fell 2.05% to 15,282.01 points.
While the broad-based S&P 500 index fell 0.88% to 4,967.23, below the 5,000-point mark. Both indexes snapped their sixth straight negative days, streaks unseen for either since October 2022. Meanwhile, the DJI Industrials Index rose 211.02 points, or 0.56%, in the latest session to close at 37,986.40.
The moves come as the S&P 500 posted its worst weekly performance since March 2023 amid growing concerns about the path of inflation and monetary policy.
With a loss of more than 3%, it was also the third straight negative week for the large-cap index. Much of the downward pressure came from technology stocks, which were the worst-performing sector in the S&P 500 over the last session and week.
The S&P 500 is now more than 5% below its 52-week high, part of a market pullback that has been driven largely by softening expectations for interest rate cuts amid flat rates.
Economists and strategists now see the Fed waiting until at least September to cut rates.
This week is set to see several key economic updates, with GDP due on Thursday and the headline inflation reading on Friday.
Corporate earnings could also be a factor in the coming days, with names like Tesla, Meta, American Airlines, Microsoft and Alphabet.
