U.S. stock futures were little changed on Sunday night as the market tried to bounce back from its longest weekly losing streak in about a year.
Dow Jones Industrial Average futures traded 17 points lower, or 0.1%. S&P 500 futures hovered below the flatline and Nasdaq 100 futures climbed 0.2%.
The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all fell for a third straight week. That marks the market's longest weekly slide since 2019.
Those declines came as tech shares — which led the broader market off its coronavirus lows and into record territory — struggled. Facebook, Amazon, Apple, Netflix, Google-parent Alphabet and Microsoft all posted steep weekly losses. The S&P 500 tech sector pulled back by 1%.
Tech was under pressure last week in part because of valuation concerns within the space as well as options of individual stocks, ETFs and indexes expired.
"For the market to hold these levels buyers have to come into the technology sector over the next week to 10 days," said Marc Chaikin, CEO of Chaikin Analytics, in a post. "Without the impetus of the call option buyers who helped propel the large cap tech stocks to extreme valuations, it is unlikely that the subsequent rally can exceed the September peak."
Traders kept an eye on Washington heading into the new week as lawmakers struggle to make progress on a new coronavirus stimulus package. Republicans and Democrats have been in a stalemate since July after provisions from the previous stimulus bill expired.
President Donald Trump hinted last week he would back a bigger relief package. White House chief of staff Mark Meadows also said he was "probably more optimistic about the potential for a deal."
However, stimulus negotiations could become more complicated after the passing of Supreme Court Justice Ruth Bader Ginsburg, which could lead to a bitter nomination process ahead of the election. Trump said he would nominate someone this week to take Ginsburg seat, drawing criticism from key Democrats and some GOP senators.
Chris Krueger, Washington strategist at Cowen, said in a note that a new coronavirus stimulus bill is now "unlikely until post Nov 3 as the fight over Justice Ginsburg's empty seat will consume DC."
There are "dueling prisms in which we view the unfortunate passing of Justice Ginsburg and filling her seat on the Supreme Court: political & procedural," said Krueger. "In a zero-sum, crass political world the immediate read-through is that anything that turns 2020 away from a Trump referendum is a positive for Trump."
"The other narrative is that this avails Democrats to run the successful 2018 playbook again: GOP trying to take away healthcare," he said.
Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.
tinyurlis.gdv.gdv.htclck.ruulvis.netshrtco.de
مقالات مشابه
- کفش پول اند بیر - آفلند
- شرکت صادرات و واردات کالاهای مختلف از جمله کاشی و سرامیک و ارائه دهنده خدمات ترانزیت و بارگیری دریایی و ریلی و ترخیص کالا برای کشورهای مختلف از جمله روسیه و کشورهای حوزه cis و سایر نقاط جهان - بازرگانی علی قانعی
- تا پلیس متهم به کمک به گانگستر-در-اجرای Vikas Dubey, بازداشت
- اهنگ خداحافظی
- شرکت صادرات و واردات کالاهای مختلف از جمله کاشی و سرامیک و ارائه دهنده خدمات ترانزیت و بارگیری دریایی و ریلی و ترخیص کالا برای کشورهای مختلف از جمله روسیه و کشورهای حوزه cis و سایر نقاط جهان - بازرگانی علی قانعی
- چینی, ساختار, سربازان خال در Galwan ولی در تصاویر ماهواره ای
- "قطع کردن سر من می گوید:" Mamata بانرجی در تظاهرات پس از طوفان Amphan
- عمده تسهیلات برای عدم مهار مناطق در تامیل نادو از دوشنبه
- شرکت صادرات و واردات کالاهای مختلف از جمله کاشی و سرامیک و ارائه دهنده خدمات ترانزیت و بارگیری دریایی و ریلی و ترخیص کالا برای کشورهای مختلف از جمله روسیه و کشورهای حوزه cis و سایر نقاط جهان - بازرگانی علی قانعی
- Vitamix Is Having a Rare 48-Hour Sale That Includes Its Most Iconic Blenders