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Tuesday, May 24, 2022

Dow Futures Trade Lower after Volatile Week By Investing.com

© Reuters.

By Oliver Gray 

Investing.com – declined on Sunday evening following a volatile week of trading after Federal Reserve policymakers raised interest rates by a half percentage point while signaling more hikes of the same size.

By 6:45pm ET (10:45pm GMT) were down 0.5% while and were each trading 0.6% lower.

First quarter earnings results are set to continue this week, albeit at a slower pace, with companies such as Palantir Technologies Inc (NYSE:), BioNTech SE (NASDAQ:) and Novavax Inc (NASDAQ:) slated to report results before the opening bell on Monday.

Market participants will also be looking ahead to Wednesday’s April amid expectations of an 8.1% increase year-over-year, easing from March’s reading of 8.5%. The , which is a gauge of wholesale prices, is released Thursday.

In other news, U.S. first lady Jill Biden made a surprise visit to Ukraine on Sunday in a move to show U.S. support for the embattled nation as the war with Russia nears the three-month mark. The U.S. and Group of Seven countries also announced that they would increase short-term financial support for Ukraine.

During last week’s trade, the lost 1.54%, the lost 0.21% and the fell 0.24%, respectively. It was the sixth straight losing week for the Dow, and the fifth straight for the other two major indexes.

On the bond markets, yields were at 3.136%, the highest levels since November 2018.

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