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Stock futures fell on Monday as the market attempted to rebound from a relentless selloff that’s punished tech stocks and pushed the S&P 500 to the brink of a bear market.
Futures for the Dow Jones Industrials dipped 39 points, or 0.1%, to 32,081, following seven straight weeks of losses for the average
Futures for the S&P 500 fell 11.5 points, or 0.3%, to 4,008.25.
Futures for the NASDAQ Composite Index settled 38 points, or 0.3%, to 12,344.75.
The S&P 500 sits 16% off its record high, while the NASDAQ Composite is down more than 27% as investors hit growth stocks trading with lofty valuations the hardest as interest rates spiked.
Retail earnings season kicks off this week with several big-box retailers set to report results for the first quarter, including Walmart, Target and Home Depot. Elsewhere, Deere is also on deck, along with a handful of technology companies.
Spirit Airlines shares surged by 20% in premarket trading after JetBlue announced a tender offer to acquire the airline for $30 a share.
Carvana’s stock price jumped 12% in Monday premarket trading after the used car company issued strong core earnings expectations for 2023, and outlined a plan to cut costs.
In Japan, the Nikkei 225 gained 0.5% Monday. In Hong Kong, the Hang Seng nicked ahead 0.3%.
Oil prices slid 84 cents to $109.65 U.S. a barrel.
Gold prices dumped $11.60 to $1,796.60 U.S. an ounce.
