By Oliver Gray
Investing.com - U.S. stock futures traded steady in early APAC deals on Monday, after major benchmark indices closed lower last week and retreated from all time high valuations amid volatile trade as market participants feared that the Fed’s proposed tapering of monetary stimulus could slow the economic recovery.
Last week, the Dow Jones Industrial Average fell 1.1%, while the S&P 500 snapped a 2-week winning streak, falling 0.6%. Meantime, the NASDAQ Composite dipped 0.7%.
Among data, existing home sales data is set to be released later in the session, while new home sales are due on Tuesday. Closely watched Q2 GDP figures and initial jobless claims numbers will be released on Thursday, while personal spending and core PCE price index data is due Friday.
Market participants are heavily focused on the upcoming Jackson Hole symposium for clues on the Federal Reserve’s tapering timeline. The event takes place virtually on Thursday and Friday.