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The Dow Futures Declined After The Best Week Since 1976

Haiden Holmes

Oct 31, 2022 14:37

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U.S. stock futures were trading inside a tight range on Sunday evening after key benchmark averages surged throughout the preceding week, with the Dow scoring its best week in decades as investors continued to monitor a multiplicity of company quarterly releases.


Dow Futures, S&P 500 Futures, and NASDAQ Futures were each down 0.1% at 7:05 p.m. ET (23:05 GMT) on Tuesday.


In the forthcoming week, market participants will concentrate on the Federal Reserve's interest rate decision and policy statement, anticipating another 75 basis point increase. In addition, investors will closely examine Manufacturing and Services PMIs, JOLTs Job Openings, and ADP Nonfarm Employment Change data.


On the earnings front, major corporations like Berkshire Hathaway (NYSE:BRKa), Advanced Micro Devices (NASDAQ:AMD), UBER, PayPal (NASDAQ:PYPL), and ExxonMobil are slated to report data (NYSE:XOM).


During Friday's session, the Dow Jones Industrial Average jumped 828.5 points, or 2.6%, to 32,861.8, while the S&P 500 rose 93.8 points, or 2.5%, to 3,901.1 and the NASDAQ Composite soared 309.8 points, or 2.9%, to 11,862.5. The Dow surged 5.3% for the week, while the S&P500 and NASDAQ also gained 3.7% and 2.2%, respectively.


The yield on 10-year United States Treasuries was 4.016% on the bond markets.