Stock futures are little changed after major averages book two straight winning days: Live updates

Stock futures are close to flat Monday evening following two consecutive winning periods that provided a reprieve from the market’s latest sell-off.

Dow Jones Industrial Common futures rose 11 factors, or lower than 0.1%. S&P 500 futures and Nasdaq 100 futures each hovered close to the flatline.

These strikes comply with a second-straight winning session on Wall Road. That marks a flip after a number of robust weeks on Wall Road as some mushy financial knowledge and President Donald Trump’s on-again-off-again tariff coverage left buyers cautious of the U.S.’ monetary well being.

The S&P 500 formally entered correction territory final week, however the index has made up some notable floor within the restoration rally seen in Friday and Monday’s periods. Regardless of the latest bounce, the tech-heavy Nasdaq Composite nonetheless sits in a correction, a time period used to explain an index falling at the least 10% from a latest excessive. The three major averages all stay down on the 12 months, underscoring the power of the market’s pullback.

Whereas buyers proceed to comply with updates out of the White Home, they will flip their consideration to the Federal Reserve two-day coverage assembly that kicks off Tuesday.

Merchants will carefully comply with Wednesday afternoon’s rate of interest announcement and subsequent press convention with Fed Chair Jerome Powell. Fed funds futures are pricing in a 99% chance that the central financial institution holds charges regular, in accordance with CME’s FedWatch instrument.

“We had two distinct levels to what was the fifth quickest correction since World Warfare II: The primary one was an excellent previous development scare, then we had fairly nasty technicals,” mentioned Mohamed El-Erian, chief financial advisor at Allianz. “Many of the dangerous technicals are behind us. So the two questions going ahead is: Will the expansion scare be contained? And can the hope within the Fed put show reasonable or not?”

Earlier than Wednesday’s charge coverage announcement, buyers will monitor financial knowledge on imports, housing, constructing and manufacturing due Tuesday morning. There are no major earnings studies anticipated on Tuesday.