Stock futures rose slightly after a broad rally on October 1st trading – a sharp turnaround from September, which brought the worst month since March 2020 for the Dow Jones Industrial Average and S&P 500 Index.
Futures linked to the S&P 500 Index rose 0.05%. Nasdaq 100 futures rose 0.15%. Dow Jones Industrial Average futures rose 4 points, or 0.01%.
Monday brought a respite Slides viewed throughout September and the previous quarter. The Dow jumped nearly 2.7%, or about 765 points, to close at 29,490.89. This was his best day since June 24. The S&P 500 advanced about 2.6% to 3678.43, its best day since July 27. The Nasdaq Composite Index rose nearly 2.3% to close at 10,815.43.
Meanwhile, the yield on the 10-year US Treasury fell to about 3.65%, down from more than 4% at one point last week.
“There was a relief recovery,” said John Mayer, chief investment officer at Global X ETFs. But he also cautioned against calling for a trend based on a single trading day. “I don’t think a day of rest will change the story.”
Mayer said the rally likely came from optimism in the US about the state of overseas markets, as the dollar continued to rally. But within the United States, he said, broader market trends are likely to be linked to future decisions by the Federal Reserve as it aims to further reduce inflation.
Investors will be watching Tuesday’s new data from the Job Opportunity and Employment Turnover Survey administered by the Bureau of Labor Statistics.
“Twitteraholic. Total bacon fan. Explorer. Typical social media practitioner. Beer maven. Web aficionado.”