Wall Street is set to wrap up the worst first half for stocks in decades this week.
U.S. stock futures were little changed on Sunday night following a major rebound last week from this year's steep declines. Despite the bounce, Wall Street is preparing to wrap up the worst first half for stocks in decades.
Those moves followed a major comeback week that saw the Dow industrials jump more than 800 points, or 2.7%. The S&P 500 popped 3.1%, and the Nasdaq Composite surged 3.3%. Market participants continued to assess whether stocks have found a bottom, or are briefly rebounding from oversold conditions. Stocksin the near term this week, as investors rebalance their holdings for the quarter-end.
"Inflation is running hot, sentiment is subdued, liquidity is evaporating, and earnings are both a bright spot and a wildcard. So, in aggregate, to us, that implies that we're probably in a sideways trending mode for a while," Sandven added.
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