US inventory futures modified little after the Dow, S&P 500 fell from their highs
Traders on the floor of the New York Stock Exchange.
U.S. stock futures barely changed on Monday night after the Dow Jones Industrial Average and S&P 500 fell from record highs in regular trading amid concerns about a resurgence of Covid-19 cases.
The Dow Jones Industrial Average futures rose 22 points, or 0.06%. The futures on the S&P 500 and Nasdaq 100 rose 0.05% and 0.02%, respectively.
During regular trading, the Dow fell 106.66 points to 35,101.85, or 0.3%. The S&P 500 was down 0.1% at 4,432.35. The Nasdaq Composite rose 0.16% to 14,860.18.
Energy stocks led the falls after oil prices fell 4% on fears a wave of Covid cases could slow demand. Recreational activities such as Norwegian Cruise Line and United Airlines also declined.
“Despite the surge in the US Delta variant, recent mobility data suggests consumer spending should remain robust,” said Jason Pride, Glenmede’s chief investment officer of private wealth, in a statement Monday. “The weekly pedestrian traffic data collected by Placer.ai for sectors sensitive to COVID-19, such as hotels, restaurants, recreation and fitness, continues to grow to sit near or exceed pre-pandemic peaks due to rejections or changes in the Stories are worth seeing. “
However, government bond yields rose after data released by the Labor Department showed the number of job vacancies rose to 10.1 million in June, up from the 9.1 million expected by economists.
Bitcoin price rose 5% on Monday, the highest price since May after gold fell 5%.
AMC’s stock rose 6.7% after posting its earnings report on Monday after close of business and reporting a smaller than expected loss. The company also announced that it will accept Bitcoin in all US locations starting this year.
The RealReal’s shares fell 5% in extended trading after reporting a quarterly loss, bringing with it Poshmark and ThredUp, who will report their gains on Tuesday.
The profit season continues on Tuesday and Coinbase will be reporting. The stock, which trades closely with Bitcoin price, rose 8% on Tuesday. SoftBank and Sysco will also report.
Investors are waiting for the consumer price index and producer price index data, both of which measure inflation, to be released on Wednesday and Thursday, respectively. A handful of central bank spokespersons, including Chicago Fed President Charles Evans and Kansas City President Esther George, are also expected this week. Investors will watch out for clues as to how the Fed plans to scale back its bond purchases.