By Oliver Gray
Investing.com - U.S. stock futures were mixed in early APAC deals on Monday, after major benchmark indices posted their best weeks since November 2020, with growth stocks outperforming as investors adjusted to the Federal Reserve’s first interest rate hike since 2018.
During Friday’s session, the Dow Jones Industrial Average rose 274.17 points or 0.8% to 34,754.94. The S&P 500 gained 51.45 points or 1.17% to 4,463.11 and the NASDAQ Composite gained 279.06 points or 2.05% to 13,893.84. For the week, the Dow Jones Industrial Average ended the week 5.5% higher, the S&P 500 surged 6.1% and the Nasdaq Composite spiked 8.1%.
Dow Jones Futures lost 0.09%, while S&P 500 Futures and Nasdaq 100 Futures remained flat
Among stocks, technology companies continued to bounce back Friday with Microsoft Corporation (NASDAQ:MSFT) up 1.76%, Meta Platforms Inc (NASDAQ:FB) adding 4.16%, Block Inc (NYSE:SQ) up 9.91%, Alphabet Inc (NASDAQ:GOOGL) gaining 1.71% and NVIDIA Corporation (NASDAQ:NVDA) up 6.81%.
EV manufacturers also increased as Tesla Inc (NASDAQ:TSLA) gained 3.88%, Rivian Automotive Inc (NASDAQ:RIVN) added 8.24% and Lucid Group Inc (NASDAQ:LCID) lifted 4.14%.
On the bond markets, United States 10-Year yields were at 2.155%.
Investors are also closely monitoring the ongoing conflict in Ukraine, as well as a recent spike in European coronavirus infection rates stemming from an emerging variant.
On the data front, market participants will be looking ahead to Markit Manufacturing and Services PMIs for March, new and pending home sales data, U.S. current account and Michigan consumer sentiment.