Stock futures rise after Dow slides five straight days on bank rout

After the Dow Jones industrial average lost for a fifth consecutive day, U.S. stock futures increased on Monday night.

Dow Jones industrial average futures increased by 79 points which are 0.25%. S&P 500 futures increased 0.20% and Nasdaq 100 futures increased 0.21%.

The SPDR S&P regional banking ETF increased by more than 2%.

First Republic Bank shares jumped 14% in extended trading after falling nearly 62% on Monday. 

KeyCorp shares increased about 12% in the relief bounce after a 27% decrease in regular trading.

Meanwhile, Gitlab shares decreased 32% in after-hours trading.

Despite a plan to backstop Silicon Valley depositors, the Dow Jones Industrial Average decreased on Monday.

Dow Decreased by 90.50 points which are 0.28%, while the broad market index went down by 0.15%.

Nasdaq increased 0.45%.

“What we’ve seen in the last week, is the first shot across the bow in terms of the effect of tightening,” this was spoken by Julan Emanuel.

“We are going to have a recession … we do think it’s likely to be mild, and so therefore what we’re thinking is you’re going to get a retest of those October lows, but eventually get that buying opportunity that we’ve been waiting for almost two years now. That will launch the next bull market phase,” Emanuel said.

The latest inflation data is eagerly anticipated by investors. Dow Jones consensus estimates predict the February consumer price index will rise 0.4% last month. The prior month’s increase was 0.5%.

Gitlab shares increased by 31%. It posted the fiscal year 2024, revenue guidance of $529 million to $533 million in 2023.

“There’s a bit more upside,” the technical analysis said.

“Downtrend line clear, you can see it there, we moved above it, we checked back to it, and we ricocheted, so a little bit more but not a lot more,” he said.

Bitcoin on Monday increased more than the $24,000 level. The last trade was 14.7% higher at $24,191.75.

Dow Jones Industrial Average futures increased by 78 points which are 0.24%.

S&P 500 increased 0.2% and Nasdaq 100 futures increased 0.15%.

- Published By Team Nation Press News