Stock futures flat before consumer confidence data

Stock futures were flat in overnight trade ahead of Tuesday’s consumer confidence data and a big week of economic data.

Futures on the Dow Jones Industrial Average and S&P 500 were flat, while Nasdaq 100 futures were down 0.1%.

During Monday’s regular trading session, the Dow Jones Industrial Average rose 94.65 points, or 0.27%. The S&P 500 rose 0.7%, while the Nasdaq Composite rose 1.31%.

The gains came amid the rise of the heavy technology market during regular trading led by shares of Teslawhich rose 8% after news that it will require shareholders to split its shares to pay dividends to investors.

“I think anyone should be impressed by the resilience of the market and I’m coming back to the lack of alternative,” Erin Brown, managing director and portfolio manager at PIMCO told CNBC. “Do you want to invest in bonds when you know the Fed is raising interest rates or do you want to invest in stocks where you can get some kind of dividend yield, you can have real earnings growth and it will give you a comfortable return in your portfolios?”

Meanwhile, the 5 years Treasuries rose above 30 years Monday, marking the first Reflection since 2006. This shift has raised some fears of a recession, although economists typically watch the spread between the two-year and 10-year interest rate, which remains positive.

Oil prices, which have fluctuated in recent weeks amid ongoing geopolitical tensions abroad, fell on Monday. Both US West Texas Intermediate (WTI) crude futures And the Brent crude futures contracts It fell about 7%, to settle at $105.96 and $112.48 a barrel, respectively. Slippage led to energy stocks such as chevron bog down.

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Market watchers continue to monitor the ongoing war between Russia and Ukraine Peace talks are set to continue in Turkey. Meanwhile, investors are watching the Fed more Banks on Wall Street pencil in half-point increments after Jerome Powell’s chair He indicated that more aggressive elevations are possible.

Investors are waiting for consumer confidence and home price data to be released on Tuesday, ahead of the monthly jobs report on Friday. Economists expect to see 460,000 jobs added in March and the unemployment rate to fall to 3.7%, according to a Dow Jones estimate.

Lululemon Athletica And the R The earnings report will also be released after the bell on Tuesday.

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