Stock futures fall as Wall Street looks ahead to Jackson Hole

Traders on the floor of the NYSE, August 9, 2022.

Source: NYSE

US stock futures fell Sunday evening after a halt from the summer rally last week as fears of aggressive rate hikes returned to Wall Street.

The Dow Jones Industrial Average futures fell 93 points, or 0.28%. S&P 500 and Nasdaq 100 futures fell 0.35% and 0.53% respectively.

On Friday, the S&P 500 closed 1.29% lower. The Dow Jones Industrial Average was down 292 points, or 0.86%, and the Nasdaq Composite was down 2.01%.

Those moves anticipate what could be a volatile trading week on Wall Street. Investors are looking forward to the latest comments from Fed Chair Jerome Powell on inflation at the central bank’s annual economic symposium in Jackson Hole.

“We’ve written a few recently about wait and see trading ahead of major events/releases…week while investors await the symposium,” read a Friday note from Susquehanna’s Christopher Jacobson.

On the earnings side, traders expect Palo Alto Networks and Zoom Video to report results Monday after the bell.

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