Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, US, April 25, 2024.
Brendan McDiarmid | Reuters
U.S. stock futures flashed near a flat line Monday evening after… Dow Jones Industrial Average He finished his fourth straight positive day.
Dow Jones futures It fell 13 points, or 0.03%. Standard & Poor's 500 futures It decreased by 0.05% Nasdaq 100 futures decreased by 0.08%
During Monday's main trading session, the Dow Jones Index rose approximately 0.5%, or 176.59 points. the Standard & Poor's 500 It rose 1%, and Nasdaq Composite It advanced by about 1.2%; Both indices closed higher for the third session in a row.
Investors carried their bullish sentiment into the market from Friday, when the latest nonfarm payrolls data showed job growth came in below expectations in April and unemployment rates rose. The results eased concerns that the economy was too hot and sparked optimism about interest rate cuts by the Federal Reserve.
To be sure, other mixed economic data — such as a slight rise in the labor cost index — means there are still questions surrounding the actual path of inflation, according to Rob Haworth, chief investment strategist at U.S. Bank Wealth Management.
“I think the market is looking for some kind of resolution in terms of what's going on with inflation,” Haworth said.
He added that he has become “a little more positive” about his outlook due to continued economic strength. “Inflation is still going on but it is not accelerating to a problematic level. So we think there is room to own risky assets here,” Haworth added.
Tuesday will be relatively quiet on the economic front, with only consumer credit data from March released in the afternoon.
Meanwhile, Wall Street will be looking towards DisneyQuarterly earnings report Tuesday morning. Swiss bank UPSoil giant baby and Johnson & Johnson spin-off Kinview It is also scheduled to announce its results.
