- S&P 500 futures +1.1%
- Nasdaq futures +1.0%
- Dow futures +1.0%
Despite a late recovery in the final hours at the end of last week, US equities still endured a rough week and closed lower for a seventh consecutive one. It's a tough backdrop at the moment and the tech "bubble" looks to have popped and if so, any signs of recovery may yet be short-lived.
As things stand, seven straight weeks of declines is a rather long stretch. That may call for a correction or a retracement of sorts in the weeks to come. But against the backdrop of a global economic slowdown, surging inflation pressures, and central banks aggressively tightening policy, it will be hard for equities to muster any major rally unless the tides turn and sentiment shifts.