U.S. Stock Futures Move Higher after Positive Week

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U.S. Stock Futures Move Higher after Positive Week
Credit: © Reuters.

By Oliver Gray

Investing.com - U.S. stock futures climbed in early APAC trading on Monday as major benchmark indices closed higher last week in volatile trade amid China Evergrande’s continuing debt crisis, while Federal Reserve’s policymakers signaled a rollback in pandemic-era stimulus, which sent long term bond yields to 12-week highs.

During Friday’s regular session, the Dow Jones Industrial Average added 33.18 points or 0.1% to 34798.01, the S&P 500 added 6.48 points or 0.15% to 4455.47. The NASDAQ Composite closed little changed at 15047.7 For the week, the Dow added 0.6% higher, the S&P 500 rose 0.5%, while the Nasdaq Composite edged up 0.02%.

Meantime, futures contracts moved 0.31% , 0.24% and 1.06% higher respectively.

On the bond markets, the U.S. 10-year Treasury yield lifted to fresh 12-week highs of 1.454%.

Investors are also monitoring the progress in Washington as lawmakers try to prevent a government shutdown, and a possible default on U.S. debt. Later in the week, ISM Manufacturing PMI data will be closely watched for any sign of growing inflationary pressure, while final estimates for second-quarter GDP are also due.

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