Dow futures rose on Tuesday as the final trading days of 2022 begin, and investors pondered whether a Santa Claus rally would emerge and lift a market weighed down by recession fears.
Dow Jones Industrial Average futures rose 100 points, or 0.3%. Composite S&P 500 futures advanced 0.16%, while Nasdaq 100 futures fell 0.14%.
China-linked stocks rose premarket The country eased Covid restrictions. Tesla collapsed In news of the extended production suspensionwhen Southwest fell 4% as the airline canceled thousands of flights.
Shares are heading for their worst annual performance since 2008 and another low month. In December, the S&P 500 fell roughly 5.8%, while the Dow and Nasdaq fell 4% and 8.5%, respectively. This was the biggest monthly decline since September.
After a brutal year consumed by inflation and recession fears, investors are hoping to end 2022 on a positive note. Friday started the season for the Santa Claus rally, ie Generally considered the final five-day trading stretch of the current yearas well as the first two trading days of the new year.
Markets were closed on Monday for the Christmas holiday, but in this shortened trading week, investors expect relatively quiet or more volatility due to low trading volumes.
On the economic front, traders await the latest data on November total inventories and October S&P/Case-Shiller home prices before Tuesday.
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