U.S. stock futures rose slightly Monday, as traders tried to add to sharp gains seen in last week.
Futures tied to the Dow Jones Industrial Average rose 91 points, or 0.3%. S&P 500 futures and Nasdaq 100 futures gained 0.3% and 0.1%, respectively.
The moves come after yet another volatile week for stocks as third-quarter earnings season heats up. The major averages had their biggest weekly gains since June, with the Dow advancing 4.9%. The S&P 500 and Nasdaq rose 4.7% and 5.2%, respectively.
A chunk of those gains came Friday, when the Dow rallied more than 700 points, while the S&P 500 and Nasdaq each popped around 2.3%.
Investors will watch for earnings from tech giants such as Apple, Alphabet, Amazon and Microsoft this week. Wall Street will also be watching for more inflation data, with the October manufacturing and services purchasing managers indexes coming Monday.
"The equities market is trying to form a bottom to get to the last leg of the bear market," said David Donabedian, chief investment officer of CIBC Private Wealth US, in a Friday note. "It feels like a two-way market right now. We have a tug of war going on between the skeptics and those who think it is time to own equities."
So far, earnings reports have had mixed results for stocks. On Friday, bank stocks Goldman Sachs and JPMorgan Chase gained more than 4% after reporting results. But not all results have been solid — Snap shed 28% after reporting an earnings miss.
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October 24, 2022 at 05:44PM
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Dow futures rise slightly as Wall Street tries to build on its best week since June - CNBC
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