Futures tied to the Dow Jones industrial average added 49 points, or 0.15%, while S&P 500 and Nasdaq 100 futures rose 0.16% and 0.21%, respectively. Zoom retreated in extended trading after cutting its full-year guidance, while Palo Alto Networks rose after posting strong quarterly results. During Monday’s regular session, the Dow fell 643.13 points, or 1.91%, to 33,063.61, while the S&P lost 2.14% to 4,137.99, the worst day for both benchmarks since on June 16. day from June 28. Monday’s sell-off was broad-based, with the 11 sectors of the S&P 500 closing lower, led by losses in information technology and consumer discretionary stocks. A slide in tech stocks weighed on the tech-heavy Nasdaq. “The global growth story is in shambles right now,” said Ed Moya, senior market analyst at Oanda. “That’s what’s really weighing on risk appetite right now, because you can’t make the US continue to be attractive while the rest of the world is collapsing.” That sentiment will continue to put pressure on large tech and consumer discretionary stocks, he said. Moya, echoing other investors, expects another round of aggressive responses from Fed Chairman Jerome Powell when he speaks Friday at the central bank’s annual economic symposium in Jackson Hole. Earnings season continues Tuesday with results from Macy’s, Nordstrom and Dick’s Sporting Goods. July new home sales will also be reported, along with the August manufacturing PMI and the August Richmond Fed survey.
