U.S. stock futures rose on Monday morning. Investors are hoping to recover from a sell-off late last week. The Dow Jones Industrial Average futures added 206 points, or 0.5%.
S&P 500 and Nasdaq 100 futures were also up 0.5% each. Last week, the stock market fell on Thursday and Friday. The Dow had its worst weekly performance since October, finishing down 2.51%.
The S&P 500 slipped 1.66% and the Nasdaq dropped 2.51% for the week. On Friday, the Dow dropped more than 700 points. The S&P 500 and Nasdaq shed 1.7% and 2.2% respectively.
February data raised concerns about the U.S. economy. The services sector contracted and consumer sentiment was weaker than expected. This week, investors will be watching corporate earnings and economic data.
Home Depot and Lowe’s report earnings on Tuesday and Wednesday. Their results will show how U.S. consumers are doing.
Nvidia earnings anticipation this week
Nvidia’s earnings on Wednesday evening could be even more important. Nvidia is a major chipmaker linked to artificial intelligence (AI). “It’s definitely one of the top things that the markets will be looking at this week,” said Lale Akoner, an analyst at eToro.
Investors want to know if competition from China will hurt companies like Nvidia. On Friday, the Fed’s preferred inflation measure, the PCE index, will be released for January. UBS warns that the chances of a “policy error” by the Trump administration are rising.
This could cause market volatility in the near term. In other market news:
– Domino’s Pizza shares fell over 3% after missing earnings expectations. – Alibaba slipped 3% after rallying 15% last week on strong earnings.
– An unnamed electric vehicle stock dropped 3% after a Bank of America downgrade. – Robinhood rose 3% as the SEC dropped a probe into its crypto unit. – Apple plans to invest over $500 billion in the U.S., including an AI server factory in Texas.
Apple shares still traded 0.8% lower. Asian markets mostly fell Monday after the U.S. data stoked fears of persistent inflation and slower growth. Hong Kong’s Hang Seng Index ended down 0.58%.
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