Dow futures gain 200 points after losing session on Wall Street

Stock futures rose on Tuesday as Wall Street sought stability after another day of losses for stocks.

Futures for the Dow Jones Industrial Average traded 195 points higher, or 0.6%. S&P 500 futures advanced 0.7%, and Nasdaq 100 futures added 1%.

Future moves are reducing energy prices. West Texas Intermediate futures, the US oil benchmark, fell more than 1%. Natural gas futures also fell.

Wall Street is suffering its second straight decline, with the Dow losing 184 points on Monday. The S&P 500 fell 0.67% and the Nasdaq Composite fell 1.02%.

The market has given some of that back Summer profits After recent comments from Federal Reserve officials, the central bank aims to continue its rate hikes, even if they cause economic pain.

“Investors are coming away with the impression that the Fed is serious about controlling inflation, even as recent data suggests that inflation is starting to ease,” said Rod von Lipsey, managing director at UBS Private Wealth Management.

“We believe the market’s summer rally is short-lived and continue to recommend that investors remain selective and focus on defensive stock sectors such as health care and dividend-paying stocks,” Van Lipsey added.

On Tuesday, investors will get several updates on the state of the economy, including the FHFA home price index for June, the Conference Board’s consumer confidence survey for August and the Bureau of Labor Statistics’ jobs report for July.

Leave a Reply

Your email address will not be published.