Dow Futures Tick Higher Ahead of Holiday, Recession Fears in Focus

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© Reuters.

By Oliver Gray 

Investing.com – U.S. stock futures rose modestly during Sunday’s evening deals, after major benchmark averages posted their third consecutive weekly declines, finishing at 16-month lows amid growing concerns that the Federal Reserve’s aggressive interest rate hikes will push the economy into a recession.

By 6:45pm ET (10:45pm GMT) were up 0.4%, gained 0.6% and were up 1%.

Ahead in the week, market participants will keep a close eye on appearances by several Fed officials after Gov. Christopher said Saturday that he favors another 75-basis-point rate hike at the late July Fed meeting. Fed Chair Powell is set to before the Senate Banking panel on Wednesday and House Financial Services Committee on Thursday.

On the data front, market participants will be monitoring and home sales, flash S&P Global (NYSE:) and PMIs as well as the final . U.S. stock and bond markets will be remain closed on Monday for the Juneteenth holiday.

In cryptocurrency markets, The price rebounded above $20,000 on Sunday after falling below $17,600 on Saturday to post fresh 18-month lows.

During Friday’s session, the fell 29.3 points or 0.1% to 29,888.8, the added 8.1 points or 0.2% to 3,674.9 and the gained 152.3 points or 1.4% to 10,798.4.

On the bond markets, yields were at 3.231%.