(MENAFN- Baystreet) S&P Suffers Worst Day Since January
Dow Tumbles Under Specter of Inflation
Indexes Blunder on Inflation Concerns
Stocks Decline as Earnings Season Starts
S&P Rebounds into Positive Territory Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Monday, April 15, 2024
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U.S. stock futures rose on Monday, rebounding from last week's sell-off following strong Goldman Sachs earnings and hopes that the conflict in the Middle East won't further escalate.
Futures for the Dow Jones Industrials index vaulted 206 points, or 0.5%, to 38,446.
Futures for the S&P 500 were up 27.5 points, or 0.3%, to 5,228.50.
Futures for the NASDAQ Composite bounced 112.5 points, or 0.6%, to 18,291.75.
The Dow fell more than 2%, marking its second down week in a row and biggest lost since March 2023. After posting its largest drop since January on Friday, the S&P 500 ended the week lower by about 1.5% - its worst performance since October 2023.
Goldman Sachs popped more than 3% in pre-market trading after beating Wall Street expectations on both lines in the first quarter. That follows several bank reports on Friday, with investors sending JPMorgan shares 6% lower amid concerns about what the financial giant may generate from lending in the year ahead.
Iran launched drones and missiles on Israel on Saturday night, marking the first direct attack on Israel from Iranian territory. While the majority of the threats were intercepted, concerns of retaliation remain.
In Japan, the Nikkei 225 decreased 0.7% Monday, while in Hong Kong, the Hang Seng slumped 0.7%.
Oil prices ditched 64 cents to $85.02 U.S. a barrel.
Gold prices gained $1.50 to $2,375.60 U.S. an ounce.
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