U.S. stock futures were little changed Monday night after a day of losses for major benchmark indices.
Dow Jones Industrial Average Futures fell two points, or 0.01%. S&P 500 Futures and Nasdaq 100 Futures blinked near the flat line.
Wall Street is coming off a choppy day for the major benchmark indices. The action of 30 Dow fell 248 points, or 0.65%, in its sixth consecutive day of losses. The blue-chip index erased most of its 2024 gains, a major turnaround considering it approached the key 40,000 level just a few weeks ago. He S&P 500 lost 1.2%, while the Nasdaq Composite fell 1.79%.
Those losses come after a surge in yields that caused investors to shrug off. strong profits of Goldman Sachs, as well as interesting retail sales data. The 10-year Treasury yield topped 4.6%, its highest level since November.
Elsewhere, investors were concerned about escalating tensions in the Middle East following Iran's decision. launch of missiles and drones against Israel on Saturday. The CBOE volatility index, commonly known as a fear gauge, closed at its highest level since October.
Still, some market watchers urged investors to stay calm and stay the course, saying a resilient economy and strong labor market could continue to support stocks.
"I think the reality for the markets is that we are not going to see a sustained decline in the US stock market until we have an earnings problem, which we don't have right now, and the labor market breaks down, which is not happening "Right now," Lauren Goodwin, chief market strategist at New York Life Investments, told CNBC.Closing bell" on Monday. "And so, I anticipate that the nervousness we're seeing is a result of, 'Yes, valuations are high.' "There's a lot of uncertainty. "That's been the case for months."
The big banks' gains will continue on Tuesday, with the release of results from Bank of America, Johnson & Johnson and Morgan Stanley. Other key reports will also be released, including those from UnitedHealth and United Airlines.
Traders will also be watching the latest reading on housing starts and building permits on Tuesday for information on the health of the housing sector. Industrial production data will also be released before the opening.
