- Dow Jones Industrial Average futures (YM00) rose 61 points, or 0.2%, to 34293.
- S&P 500 futures (ES00) gained 9 points, or 0.2%, to 4370.
- Nasdaq 100 futures (NQ00) increased 33 points, or 0.2%, to 14903.
On Friday, the Dow Jones Industrial Average (DJIA) fell 107 points, or 0.31%, to 33964. The S&P 500 (SPX) declined 10 points, or 0.23%, to 4320, and the Nasdaq Composite (COMP) dropped 12 points, or 0.09%, to 13212.
There weren't many significant catalysts for the markets on Monday. However, the tentative end of the writer's strike lifted media companies such as Paramount Global (PARA) and Netflix (NFLX) in premarket trade. Additionally, President Joe Biden plans to support the United Auto Workers strike against the Big Three automakers during his visit to Michigan.
The main focus has been the rapid increase in long-term interest rates. Technical strategists at Bank of America believe that while there is no evidence to suggest that the rise in the 10-year yield is complete, it is getting stretched.
The yield on the 10-year Treasury (BX:TMUBMUSD10Y) rose by 4 basis points to 4.48%.
In other news, the housing crisis in China made headlines again as Evergrande shares slumped after it scrapped a $35 billion debt restructuring plan. Meanwhile, shares of China Aoyuan Group dived on their first day of trading in over a year. The Hang Seng (HK:HSI) skidded 1.8% in Hong Kong trade.
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