Stock market news live updates: May 17, 2022

U.S. inventory futures have been flat in extended buying and selling late Monday pursuing yet another working day of gyrations in fairness marketplaces as anxieties around persistent ranges of inflation and the prospect of an financial slowdown continued to weigh on sentiment.

Futures tied to the S&P 500 have been around breakeven just after the benchmark struggled to shake off final week’s losses and closed lower in the main session. Contracts on the Dow Jones Industrial Ordinary rose and the Nasdaq Composite also traded around the flatline.

Monday’s moves increase 6 straight months of losses for the S&P 500, its longest shedding streak in a lot more than a ten years, and 7 consecutive down weeks for the Dow Jones Industrial Regular, the index’s widest interval of weekly losses due to the fact 2001.

Uncertainty all around the tempo and magnitude of the Federal Reserve’s charge mountaineering cycle has stoked stress across marketplaces that has persisted throughout the year. In 2022 so far, the S&P 500 is roughly 17% down below its all-time substantial on Jan. 3, though the Dow is down about 13% above the exact same period of time and the Nasdaq has fallen deeper into a bear current market – well above 20% beneath its file closing cost in November.

“Markets lead the financial state,” Citi Private Lender Main Expenditure Officer David Bailin informed Yahoo Finance. “The fact that marketplaces are decreased at this stage indicates that the buyer is slowing, and the world-wide overall economy is slowing.”

Equity marketplaces have endured “severe technological damage” in new months, with the S&P 500 falling down below the essential 4,000 level past Monday ahead of screening bear industry degrees near 3850 past Thursday, Comerica Prosperity Administration Chief Financial commitment Officer John Lynch pointed out in an emailed take note.

“Curiously, responses from Fed Chair Jerome Powell indicating the chance of economic soreness in get to achieve the central bank’s goals of decreasing inflation might have been the catalyst for the S&P 500’s rally starting Thursday afternoon and long lasting by way of Friday’s shut,” Lynch wrote. “Nevertheless, we warning buyers that the intense technological injury endured these past quite a few months will get extended than a few fantastic times to repair service.”

Tale carries on

Buyers will have far more Fedspeak to mull in the coming days, with Fed Chief Jerome Powell established to give remarks at a meeting hosted by the Wall Street Journal Tuesday afternoon, and talking engagements from other central bank officers slated to acquire area by Friday.

“The inconvenient fact is the Fed is going to will need to raise costs a lot more rapidly and to a better level than quite a few were being hoping,” Unbiased Advisor Alliance Chief Financial commitment Officer Chris Zaccarelli said recently in an emailed observe. “There will be at the very least 4 50 bps amount hikes this calendar year and not 3 or considerably less and we will go on to be cautious with risk property.”

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6:17 p.m. ET Monday: Stock futures minimal improved following narrow restoration in marketplaces

Here is exactly where inventory futures had been in extended investing forward of the overnight session Monday:

• S&P 500 futures (ES=F): -1.00 (-.02%) to 4,003.75

• Dow futures (YM=F): -4.00 (-.01%) to 32,155.00

• Nasdaq futures (NQ=F): +4.50 (+.04%) to 12,249.25

• Crude (CL=F): -$.51 (-.45%) to $113.69

• Gold (GC=F): +$10.20 (+.56%) to $1,824.20 for each ounce

• 10-calendar year Treasury (^TNX): -5.8 bps to generate 2.8770%

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Alexandra Semenova is a reporter for Yahoo Finance. Abide by her on Twitter @alexandraandnyc

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