US stock futures rose slightly on Monday night after the S&P 500 fell to its lowest point in more than a year.
Dow Jones Industrial Average futures were up 81 points, or 0.3%. S&P 500 and Nasdaq 100 futures rose 0.3% and 0.3%, respectively. Shares of AMC and Novavax made significant moves after hours of their most recent quarterly reports.
Earlier in the day, the S&P 500 fell below the 4,000 level to mark the index’s weakest point since March 2021. The broad market index fell to 3,975.48, falling 17% from its 52-week high. as Wall Street continued to struggle to find a bottom after last week’s losses.
Meanwhile, the Dow Jones Industrial Average fell 1.99%. The S&P 500 fell 3.2% and the tech-heavy Nasdaq Composite lost 4.29%. Major tech stocks like Meta Platforms and Alphabet fell 3.7% and 2.8%, respectively. Tesla shares fell more than 9%.
“Sentiment has been very bearish for the last few months, if not the last few weeks for sure, and the inability to recover…tells you all you need to know about the current state of the market, which means the bears are in control,” said Adam Sarhan, founder and CEO of 50 Park Investments.
Meanwhile, the yield on the benchmark 10-year Treasury note rose to its highest level since late 2018, topping 3%.
In after-hours trading on Monday, AMC’s stock price rose 4% after the entertainment company reported its “strongest first quarter in two full years” as consumers returned to theaters.
Novavax‘s share price fell 10% in extended trading after the biotech company missed earnings expectations despite also reporting its first profitable quarter.
Interactive Platoon and Fox are set to report earnings Tuesday before the bell. base of coins, Roblox, royal royal Y all the birds they are expected to report earnings on Tuesday after the market close.