US stock futures rose on Tuesday as the final trading days of 2022 began and investors were hoping for a rally in Santa Claus to lift a market weighed down by recession fears.
Dow Jones Industrial Average futures rose 200 points, or 0.6%. S&P 500 and Nasdaq 100 futures rose 0.56% and 0.37%, respectively.
During the regular session on Friday, the Dow Jones Industrial Average closed up 176 points, or 0.5%. The S&P 500 rose 0.6%, and the Nasdaq Composite rose 0.2%.
Friday marked the beginning of the time period for the Santa Claus crowd, which is It is usually considered the last five-day trading stretch of the current year, as well as the first two trading days of the new year. Markets were closed on Monday for the Christmas holiday.
Due to lower trading volumes, investors are expecting either relative calm or more volatility during the holiday week. markets Closing month and year Identified by an increase in recession fears.
In December, the S&P 500 fell nearly 5.8%, while the Dow and Nasdaq fell about 4% and 8.5%, respectively. These are the largest monthly declines since September. The major averages are on track for their worst annual performance since 2008.
“[The] “The question of what kind of recession remains unanswered,” Quincy Crosby, chief global strategist at LPL Financial, said Friday. To this, the answer is primarily dictated by how much the Fed needs to raise interest rates to finally tackle viscous inflation.
On the economic front, traders should expect the latest data on November Wholesale Inventories and October S&P/Case-Shiller Home Prices on Tuesday before the bell.
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