Trader works on the floor of the New York Stock Exchange (NYSE) on October 4, 2021 in New York City.
Spencer Platt | Getty Images
Equity futures remained largely unchanged in Monday night’s trade after Wall Street started the week on a sour note.
The Dow Jones Industrial Average futures fell 20 points. S&P 500 futures and Nasdaq 100 futures both lost 0.1%.
The market took a hit earlier this week as the Dow Jones Industrial Average fell 250 points. The S&P 500 fell 0.7% on Monday, with 9 of 11 sectors reporting losses, while the tech-heavy Nasdaq Composite fell 0.6%.
Chris Larkin, Trading Managing Director of E-Trade Finance said. “As new data emerges and traders gain potential insight into growth prospects, it may be wise to prepare for further uptake down the road.”
JPMorgan Chase and other major banks are set to begin their third-quarter earnings session later this week. According to Refinitiv, this quarter’s revenue growth is expected to grow about 30% year-over-year, following a 96.3% increase in the second quarter.
Rod von Lipsie, managing director of UBS Private Wealth Management, said:
Investors will be monitoring the latest employment data when the labor ministry publishes the job and turnover survey on Tuesday. Economists polled by the Dow Jones expect 10.9 million jobs in August, the total unchanged from July.
The stock market rose in September and the S&P 500 fell 4.8% in its worst month since March 2020, trailing seven months in a row.
According to the CNBC Market Strategist survey, leading Wall Street strategists are seeing modest returns for the rest of 2021 as the year-end average S&P 500 target is 4,433, less than 2% of Monday’s closing price. ..