Good Monday morning traders and investors of the r/stocks sub! Welcome to the new trading week and a fresh start! Here are your pre-market stock movers & news on this Monday, March 6th, 2023-
Stock futures are little changed as investors look ahead to Powell comments, jobs data this week
U.S. stock futures were flat Monday as Wall Street looked ahead to a week filled with economic data and the latest commentary from the Federal Reserve.
Dow Jones Industrial Average futures fell 43 points, or 0.1%. S&P 500 and Nasdaq-100 hovered around the flatline.
Traders are coming off a positive week for the major averages. The Dow industrials added 1.75% last week, ending a four-week losing streak. The S&P 500 advanced 1.90%, while the Nasdaq capped the week with a 2.58% pop.
Those gains come even as the yield on the benchmark 10-year Treasury note rose above the psychological 4% level at various points last week. An upward move in the 10-year yield raises borrowing costs for consumers and could signal a drop in investor confidence.
“If you’re afraid of a recession, go get the 10-year Treasury,” Sri-Kumar Global’s Sri Kumar told CNBC on Friday. “Equities are a losing proposition today, and until you see the valuations come down significantly, just don’t trust [Friday’s] rally.”
Important catalysts this week include congressional testimony Tuesday and Wednesday from Fed Chair Jerome Powell, who will guide investors and lawmakers on how the central bank is thinking about inflation and its rate-hiking campaign going forward.
Traders are also anticipating the February jobs report on Friday, which follows January’s blockbuster report that showed the economy added 517,000 payrolls. Economists polled by Dow Jones are expecting 225,000 jobs added last month.
On Monday, the latest factory orders data will also be released after the bell. Economists are expecting a decline of 1.8% in January, according to consensus estimates from Dow Jones. That’s compared to a 1.8% gain in the prior reading.
STOCK FUTURES CURRENTLY:
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LAST WEEK'S MARKET MAP:
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TODAY'S MARKET MAP:
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LAST WEEK'S S&P SECTORS:
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TODAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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EARNINGS RELEASES BEFORE THE OPEN TODAY:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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FRIDAY'S ANALYST UPGRADES/DOWNGRADES:
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FRIDAY'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
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THIS MORNING'S STOCK NEWS MOVERS:
(source: [cnbc.com]())
(N/A.) – (N/A.).
STOCK SYMBOL: (N/A.)
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FULL DISCLOSURE:
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk.
DISCUSS!
What's on everyone's radar for today's trading day ahead here at r/stocks?
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