Stock futures are on the rise as Wall Street aims to bounce back after a recent tech sell-off.
The S&P 500 futures are up 0.6%, Nasdaq 100 futures have gained 0.75%, and Dow Jones futures have added 0.5%. This comes after both the S&P 500 and Nasdaq experienced significant losses last week, with six consecutive days of declines.
On Friday, the Nasdaq dropped 2%, with Nvidia leading the decline with a 10% drop. However, the Dow was mostly unaffected by the tech losses.
Investors are now turning their attention to upcoming earnings reports from major companies including Tesla, Meta Platforms, American Airlines, Microsoft, and Alphabet.
Recent inflation data has also lowered expectations for Federal Reserve rate cuts, with GDP and key inflation readings expected later in the week. The Fed meeting scheduled for April 30-May 1 has officials in a quiet period leading up to the event.
With the possibility of a “higher for longer” interest rate scenario, investors are advised to prepare for potential changes in the market.
