Finance News

Inventory futures rise in in a single day buying and selling after the market ends the wild week within the nation

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, USA on Monday, August 23, 2021.

Michael Nagel | Bloomberg | Getty Images

Stock futures rose overnight on Sunday as investors prepared for the final week of volatile September.

Futures on the Dow Jones Industrial Average rose 80 points. S&P 500 futures rose 0.2% and Nasdaq 100 futures were flat.

Wall Street is enjoying a rollercoaster week amid a range of concerns ranging from China's real estate giant Evergrande's debt crisis to the Federal Reserve's signal to pull back monetary stimulus to Beijing's crackdown on cryptocurrencies. Still, the large averages at the beginning of the week managed to offset steep losses and make small gains.

The blue-chip Dow ended the week 0.6% higher, breaking a three-week losing streak. The S&P 500 was up 0.5% for the week, while the tech-heavy Nasdaq Composite was up 0.02% last week.

"Stock markets continue to reflect a bull-bear tug-of-war," said Mark Hackett, director of investment research at Nationwide, in a press release. "The market recovery has shown that the buy-the-dip mentality remains."

So far, September lives up to its reputation for volatility and weakness as the major averages all posted modest losses. The S&P 500 is back 1.5% and is well on its way to seeing its first negative month since January. The broad equity benchmark is about 2% below its record high September 2. The Dow is down 1.6% for the month while the Nasdaq is down 1.4%.

"We remain cautious in the short term, especially as we enter the seasonally weakest time of the year (late September – mid-October)," said Larry Adam, CIO at Raymond James, in a press release. "However, given the continued robust economic growth, our tendency is to hold existing equity exposures or to increase them opportunistically when weak."

Investors watch progress in Washington as lawmakers try to prevent a government shutdown, US debt default, and the possible collapse of President Joe Biden's broad economic agenda.

House spokeswoman Nancy Pelosi said Sunday that she expects the $ 1 trillion bipartisan infrastructure bill to pass this week, but voting on the bill could be postponed from its original schedule on Monday.

Congress must pass a new budget by the end of September to avoid a shutdown, and lawmakers must also find a way to raise or suspend the debt ceiling in October before the US defaults on its debts for the first time.

Elsewhere, Bitcoin rebounded about 2% to $ 43,454 after falling 5% on Friday. The sell-off came after China's central bank ruled all cryptocurrency-related activities illegal.

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