U.S. Futures Largely Unchanged; Employment Data, Inflation Highlight Busy Week

U.S. Futures Largely Unchanged; Employment Data, Inflation Highlight Busy Week

U.S. Futures

Nasdaq 100 is trading down 0.08% at 14754.31

U.S. stocks are seen opening largely unchanged Monday, with investors keeping a wary eye on developments in Ukraine at the start of a week that includes the release of key inflation and employment data.

At 7 AM ET (1100 GMT), the Dow Futures contract was up just 4 points, less than 0.1%; S&P 500 Futures traded 1 point, less than 0.1%, lower; and Nasdaq 100 Futures dropped 20 points, or 0.1%.

The three main averages on Wall Street posted gains last week, their second consecutive winning week, with the broad-based S&P 500 index now having more than erased its losses since Russia invaded its southern neighbour in late February.

Ukrainian and Russian negotiating teams are set to meet in Turkey this week, with Ukrainian President Volodymyr Zelensky telling independent Russian reporters that he would be willing to accept permanent neutrality as a basis for peace, as long as it was guaranteed by third parties.

Meanwhile, the White House has rowed back on President Joe Biden’s weekend remarks calling for the departure of Vladimir Putin as Russian president, saying he had not been calling for regime change.

Away from eastern Europe, investors will continue to focus on the strength of the U.S. economy and the Federal Reserve’s plans for upcoming interest rate hikes.

The monthly nonfarm payrolls report for March is due on Friday, with economists expecting the U.S. economy to have added another 475,000 jobs, after 678,000 were created in February.

On technical fronts Nasdaq 100 RSI stood at 79.57 and currently it is trading above all MA. So, BUY position can be taken with following target and stoploss:

TRADE SIGNAL – : Nasdaq 100 – BUY: 14773.94, TARGET: 14836.40, STOP LOSS: 14739.09

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