Traders enactment connected the level of the New York Stock Exchange (NYSE), November 29, 2022.
Brendan McDermid | Reuters
U.S. banal futures roseate connected Tuesday greeting arsenic investors caput into the last trading days of 2022, deliberating whether a Santa Claus rally volition look and assistance a marketplace that has been weighed down by recession fears.
Dow Jones Industrial Average futures roseate by 154 points, oregon 0.46%. S&P 500 and Nasdaq 100 futures precocious 0.63% and 0.75%, respectively.
During the regular league Friday, the Dow Jones Industrial Average closed 176 points higher, oregon 0.5%. The S&P 500 roseate 0.6%, and the Nasdaq Composite added 0.2%.
Friday marked the commencement of the clip play for a Santa Claus rally, which is typically considered the last five-day trading agelong successful the existent year, arsenic good arsenic the archetypal 2 trading days successful the caller year. Markets were closed Monday for the Christmas holiday.
Due to debased trading volumes, investors are expecting either comparative quiescent oregon further volatility during the holiday-shortened week. Markets are closing retired a period and year defined by a surge successful recession fears.
In December, the S&P 500 dropped astir 5.8%, portion the Dow and Nasdaq dropped astir 4% and 8.5%, respectively. These are the biggest monthly declines since September. The large averages are headed for their worst yearly show since 2008.
"[The] question of what benignant of recession remains unanswered," Quincy Krosby, main planetary strategist astatine LPL Financial, wrote Friday. "And for this, the reply is dictated chiefly from however overmuch much the Fed needs to rise rates to yet tackle sticky inflation."
On the economical front, traders are expecting the latest information connected November wholesale inventories and the October S&P/Case-Shiller location prices Tuesday earlier the bell.
Here are wherever the large averages basal heading into the last trading week
Stocks are connected gait to adjacent retired their worst twelvemonth since 2008 arsenic investors caput into the last trading week of 2022. Here are wherever they stand.
Dow Jones Industrial Average
- The Dow is down -4.01% period to date, connected gait to interruption a 2-month triumph streak.
- The Dow is down -8.63% twelvemonth to date, connected gait to interruption a 3-year triumph streak with its worst yearly show since 2008 erstwhile it fell -33.84%.
S&P 500
- The S&P is down -5.77% period to date, connected gait to interruption a 2-month triumph streak.
- The S&P is down -19.33% twelvemonth to date, connected gait to interruption a 3-year triumph streak with its worst yearly show since 2008 erstwhile it fell -38.49%.
Nasdaq Composite
- The NASDAQ is down -8.46% period to date, connected gait to interruption a 2-month triumph streak.
- The NASDAQ is down -32.90% twelvemonth to date, connected gait to interruption a 3-year triumph streak with its worst yearly show since 2008 erstwhile it fell -40.54%.
— Sarah Min, Chris Hayes
Stock futures unfastened higher
U.S. banal futures roseate connected Monday nighttime arsenic investors headed into the last trading days of 2022, deliberating whether a Santa Claus rally volition look and assistance a marketplace that has been weighed down by recession fears.
Dow Jones Industrial Average futures roseate by 110 points, oregon 0.33%. S&P 500 and Nasdaq 100 futures precocious 0.45% and 0.58%, respectively.
— Sarah Min