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Stock Market

28 Jun 2022

Dow Jones Futures see a modest hike in a fresh start on Tuesday

The Index Today

U.S. stock futures pointed to slight modest gains following the Monday losses as the markets fresh opened on Tuesday and approached the halfway point of a year. The change was characterized by rapidly tightening monetary policy from the Federal Reserve amid efforts to curb soaring inflation.

Dow futures contract was up 150 points, or 0.5 percent, S&P 500 futures traded 17 points, or 0.4 percent higher, and Nasdaq 100 futures were up 42 points, or 0.4 percent.

Dow Jones stock Nike reported a slight rise as it climbed more than 2 percent in extended trade before turning 3% lower on weaker-than-expected revenue guidance.

Wall Street’s three main indices closed lower on Monday and as a result, futures saw a rebound. The Dow Jones Industrial Average fell 0.2 percent while the S&P 500 moved down 0.3 percent. The tech-heavy Nasdaq composite lost 0.7%. The last week’s comeback rally ran out of steam amid ongoing concerns over the prospect of recession brought on by rapid rate hikes as the Fed tries to stamp out inflation.

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