U.S. stock futures fell Sunday night following a volatile week for Wall Street, in which the Nasdaq Composite dropped into correction territory.
for the major averages. On Friday, the Nasdaq capped a third straight week of losses, bringing the tech-heavy index down more than 10% from a record set last month.
The S&P 500 also posted a third straight losing week, down 2% for the week. Even the Dow Jones Industrial Average, which had been outperforming, snapped a four-week win streak, falling 2%.Investors will now watch to see if this move lower can continue. The S&P 500 is 5.7% below its all-time high. The Dow, off by 3.9%.
Investors may glean some insight into how the Fed may proceed with interest rates in the coming week. San Francisco Fed President Mary Daly will be speaking at the Hawaii Executive Collaborative after the close Monday.The July ISM Services PMI, which measures the performance of services companies, is expected to show a rise to 50.9 from 48.8 previously.Dow Jones Industrial Average futures fell by 221 points, or 0.6%. S&P 500 futures and Nasdaq-100 futures dipped 0.9% and 1.2%, respectively.
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