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Stock market futures moved higher early Monday as Wall Street looked to bounce back from a slide late last week.
Futures for the Dow Jones Industrials hiked 289 points, or 0.7%, to 43,775
Futures for the S&P 500 index advanced 31.5 points or 0.5%, to 6,060.50.
Futures for the tech-heavy NASDAQ jumped 90 points, or 0.4%, to 21,769.25.
The move follows the stock market’s fall on Thursday and Friday to end the week in the red. The Dow finished down 2.51% for its worst weekly performance since October. The S&P 500 toppled 1.7%, and NASDAQ slipped 2.5% for the week. On Friday alone, the Dow dropped more than 700 points, while the S&P 500 tailed off 1.7% and NASDAQ shed 2.2%.
Those declines came after February data raised concern over the state of the U.S. economy. Purchasing managers’ index numbers showed the U.S. services sector contracted for the month, while the widely followed University of Michigan’s consumer sentiment index came in weaker than expected.
The week ahead includes key readings on corporate earnings and the economy. Earnings reports from Home Depot and Lowe’s on Tuesday and Wednesday, respectively, will give investors a better sense of how U.S. consumers are faring. Nvidia’s earnings report on Wednesday evening could be even more impactful, as the artificial intelligence-linked chipmaker is still one of the biggest stocks by market cap.
This will be Nvidia’s first earnings report since the emergence of the DeepSeek large language model from China that cast doubt on the sustainability of the AI trade.
Then Friday will deliver the January reading of the personal consumption expenditures index, which is the Federal Reserve’s preferred measure of inflation.
In Hong Kong, the Hang Seng retreated 0.6%, while in Japan, markets were closed for holiday.
Oil prices retreated eight cents to $70.32 U.S. a barrel.
Gold prices moved ahead $13.20 to $2,966.40 U.S. an ounce.
