Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on October 4, 2021.
Spencer Pratt | Getty Images
After Wall Street started the week in a downturn, stock futures showed little change in Monday’s overnight trading.
The Dow Jones Industrial Average futures fell 20 points. S&P 500 index futures and Nasdaq 100 index futures both fell 0.1%.
The opening quotation plunged this week, and the Dow plunged 250 points. The Standard & Poor’s 500 Index fell 0.7% on Monday, 9 of 11 sectors fell, and the Nasdaq Composite Index, which is dominated by technology stocks, fell 0.6%.
Chris Larkin, Managing Director of E Trading, said: “As we begin to make a profit, there are many unfavorable factors. Traders will look for any and all signs of guidance—especially when the threat of slowing growth is imminent.” -Trade finance. “With the emergence of new data and traders have some potential understanding of growth prospects, it may be wise to prepare for more bumps on the road.”
JPMorgan Chase and other big banks will begin their third-quarter earnings season later this week. Refinitiv’s data shows that after a 96.3% increase in the second quarter, earnings growth for this quarter is expected to increase by about 30% year-on-year.
Rod von Lipsey, Managing Director of UBS Private Wealth Management, said: “In recent weeks, expectations for third-quarter earnings have been declining. This should create some upside surprises. Good for overall market sentiment.”
As the Department of Labor releases its job vacancy and labor mobility survey, investors will pay close attention to the latest employment data on Tuesday. Economists surveyed by Dow Jones estimated that there were 10.9 million job vacancies in August, the same as the total in July.
The stock market experienced ups and downs in September. The Standard & Poor’s 500 Index fell 4.8%, the worst month since March 2020, and broke the upward momentum for seven consecutive months.
According to a CNBC market strategist survey, major Wall Street strategists believe that the rate of return for the rest of 2021 will be very low, because the S&P 500’s year-end average target is 4,433, which is less than 2% lower than Monday’s closing price.