Futures tied to Wall Street's main indexes gained on Monday, rebounding from heavy losses last week, as investors remained optimistic about soft landing...
- Futures tied to Wall Street's main indexes gained on Monday, rebounding from heavy losses last week, as investors remained optimistic about soft landing prospects for the U.S. economy ahead of a crucial inflation report later in the week.Most chip stocks, which also saw heavy selling last week, were on the rise with AMD and Marvell Technology advancing 1% and 1.7%, respectively.
"Today, the markets remain cautiously optimistic, reflecting hopes that rate cuts will avoid a downturn. Yet, if economic conditions worsen sharply, fears of a recession could outweigh the benefits of rate cuts," said Seema Shah, chief global strategist at Principal Asset Management. On Tuesday, Democrat Kamala Harris and Republican Donald Trump will debate for the first time ahead of the presidential election on Nov. 5.
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