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Stock futures gain as Wall Street looks to snap 8-week losing streak

By Mike Murphy

U.S. stock-index futures gained late Sunday, after Wall Street last week sank to is longest losing streak since 1932.

Dow Jones Industrial Average futures were recently up about 150 points, or 0.5%, while S&P 500 futures and Nasdaq-100 futures posted gains closer to 1%. Crude prices , meanwhile, gained slightly in electronic trading.

Last week, the three major indexes declined for the eighth straight week, the longest such streak since April 1932, according to Dow Jones Market Data.

Read:Buy the dip or sell the 'rip'?: What's ahead for stock investors as 'sticky' inflation fears heighten consumer concern

On Friday, the Dow edged up 8.77 points, or less than 0.1%, to close at 31,261.90, while the S&P 500 added less than 1 point to finish nearly flat at 3,901.36, after earlier trading in bear-market territory. The Nasdaq Composite fell 33.88 points, or 0.3%, to end at 11,354.62, its lowest close since Nov. 3, 2020.

For the week, the Dow fell 2.9%, the S&P 500 dropped 3.1% and the Nasdaq slid 3.8%.

Investors are looking ahead to a number of major earnings reports this week, including Zoom Video Communications Inc. (ZM), Nvidia Corp. (NVDA), Costco Wholesale Corp. (COST) and Macy's Inc. (M).

-Mike Murphy

 

(END) Dow Jones Newswires

05-22-22 2308ET

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