Nasdaq 100 E-Mini Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) Monday closed down -0.61%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.10%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.87%.
Stock indexes Monday extended last Friday’s losses on concern the Fed will have to raise interest rates for longer after last Friday’s stronger-than-expected Jan payroll report. Stocks are also lower on concern about the escalation of U.S.-China geopolitical tensions after the U.S. shot down an alleged Chinese spy balloon over the weekend.
Negative corporate news Monday was another bearish factor for stock index futures. Semiconductor chip makers fell on demand concerns after Dell Technologies said it would cut about 5% of its global workforce due to plummeting demand for personal computers. Also, Tyson Foods closed down more than -4% after reporting weaker-than-expected Q1 sales. In addition, PayPal Holdings, Datadog, and Edwards Lifesciences closed down at... Read more