Stock futures are flat after Dow starts week lower

1 week ago 17

Traders connected the level of the New York Stock Exchange

Source: NYSE

Stock futures are level successful overnight trading Monday aft the Dow and S&P 500 each started the week lower.

Futures connected the Dow Jones Industrial Average fell 13 points, oregon 0.04%. S&P 500 futures ticked 0.01% higher and Nasdaq 100 futures added 0.11%.

The Dow fell 126 points, oregon 0.36%, successful the regular league Monday for its worst regular show since May 19. The S&P 500 dipped 0.08%, and a losing materials assemblage — down 1.2% — weighed connected the market.

The Nasdaq Composite edged 0.5% higher connected Monday, boosted by shares of Biogen. The biopharmaceutical banal surged 38% aft the FDA approved its groundbreaking Alzheimer's drug.

Meme stocks continued their rally Monday. Shares of AMC Entertainment jumped 14.8%, and BlackBerry and GameStop shares besides popped double-digits. The U.S. Securities and Exchange Commission said Monday it's watching ongoing volatility successful the market and vowed to support retail investors.

Investors are awaiting caller ostentation signals aboriginal this week pursuing Friday's jobs report. While the U.S. added less jobs than expected successful May, the unemployment complaint dropped to 5.8% from 6.1% and markets reacted positively to the readout.

"The reflation commercialized is taking a spot of a backseat adjacent arsenic Friday's 'Goldilocks' payrolls study served to quell immoderate concerns that the system mightiness beryllium doing a spot excessively well," Goldman Sachs' Chris Hussey said successful a enactment Monday. "Today's marketplace enactment shows that these concerns mightiness beryllium present to stay."

May's user terms scale is acceptable to beryllium released Thursday. Economists are expecting the CPI to emergence 4.7% from a twelvemonth earlier, according to Dow Jones. In April, the CPI accrued 4.2% connected an yearly basis, the fastest emergence since 2008.

All eyes are connected the adjacent Federal Open Market Committee gathering scheduled for June 15-16 arsenic investors look for what Fed officials volition accidental astir ostentation and monetary policy. Recent comments by officials suggest the Fed is opening to prepare markets for tapering its plus purchases.