Dow Futures Move Higher After 3rd Week of Declines

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By Oliver Gray – U.S. stock futures moved higher during Monday’s evening trade as major averages remained closed for a public holiday after posting the third consecutive week of declines.

By 7:10pm ET (11:10pm GMT) Dow Jones Futures and S&P 500 Futures were up 0.1% while Nasdaq 100 Futures added 0.2%.

Ahead in the week, the August Services PMI and ISM’s services prints will be closely monitored as well as speeches from the Federal Reserve’s Mester, Brainard and Powell. Further interest rate increases from the European Central Bank will also be closely watched by investors.

Meantime, European markets closed lower on Monday as investors amid fresh energy concerns following reports that Russia’s state-owned Gazprom (MCX:GAZP) would halt gas supplies to Europe through its Nord Stream 1 pipeline.

During Friday’s session, the Dow Jones Industrial Average fell 338 points or 1.1% to 31,318.5, the S&P 500 shed 42.6 points or 1.1% to 3,924.3 and the NASDAQ Composite dipped 154.3 points or 1.3% to 11,630.9.

On the bond markets, United States 10-Year rates were at 3.231%.

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