Stock futures fall slightly on Sunday evening with Wall Street riding a four-week winning streak - CNBC

Stock futures dipped on Sunday evening as Wall Street looks to build on four straight positive weeks for the equity market.

Futures for the Dow Jones Industrial Average ticked down 38 points, or 0.1%. Futures for the S&P 500 and Nasdaq 100 slipped about 0.2% each.

Wall Street is coming off the fourth-straight winning week for all three major averages, as stocks have rallied since the 10-year Treasury yield retreated from the 5% mark it briefly topped in late October.

The rally has come despite warnings from some U.S. retailers that consumer spending is weakening. Traders will be looking for updates about the start of the holiday shopping season after Black Friday.

Weak spending data could suggest that the Federal Reserve's rate hikes are finally starting to weigh on the broader economy.

"The New York Fed's latest household survey shows that a record-high share of consumers are saying that it is much harder to obtain credit ... This is what the textbook would have predicted. When the Fed raises interest rates it becomes more difficult for consumers to borrow," Torsten Slok, Apollo Global Management chief economist, said in a note to clients on Sunday.

The week ahead is also a busy one for economic indicators and Fed commentary. On Monday, new home sales and the latest Dallas Fed Manufacturing Survey are due out. Readings for consumer confidence and inflation follow later in the week.

Adblock test (Why?)



from "market" - Google News https://ift.tt/k7XhtL5
via IFTTT

Comments

Post a Comment

Popular posts from this blog

After street vendor crackdown, Corona Plaza market is a changed place - Gothamist

Image
The stretch of pavement in Queens where Liliana Sanchez used to sell aguas frescas has been empty since city sanitation police forced her to pack up her pop-up tent canopy. Her 16-year-old daughter now spends school nights and weekends busing tables to help pay rent. Across the street from Corona Plaza, sales at Alondra Cardoso’s hair salon have dipped 30%, or some $200 to $300 dollars a week, since the clientele from the former street vendor market no longer venture into her shop. Delivery worker Jorge Marin, 35, now orders breakfast from a bakery at a nearby intersection. He used to load up on tamales and yogurt and steaming cups of champurrado at the market, which expanded during the height of the pandemic. Now, at the bakery, he said he spends more for less. “It’s been dead,” Queens Borough President Donovan Richards said of the plaza since the vendors’ departure. “It’s taken the life out of the community.” The scene on a recent day in Corona Plaza, Queens, where a crack
Read more

Consumer Price Inflation, by Type of Good or Service (2000-2022) - Visual Capitalist

Image
Published 1 day ago on February 22, 2023 Consumer Price Inflation, by Type of Good or Service (2000-2022) The Consumer Price Index (CPI) provides a steady indication of how inflation is affecting the economy. This big picture number is useful for policymakers and professionals in the financial sector, but most people experience inflation at the cash register or checkout screen. Since the start of the 21st century, U.S. consumers have seen a divergence of price movements across various categories. Nowhere is this better illustrated than on this chart concept thought up by AEI’s Mark J. Perry . It’s sometimes referred to as the “chart of the century” because it provides such a clear and impactful jump-off point to discuss a number of economic forces. The punchline is that many consumer goods—particularly those that were easily outsourced—saw price drops, while key “non-tradable” categories saw massive increases. We’ll look at both situations in more detail below. Race
Read more