The US stock futures index fell in early trading on Monday.As of press time, Dow futures fell 74 points, or 0.22%, to 34132.00, while S & P 500 futures fell 11.13 points, or 0.27%, to 4146.62.NASDAQIndex futures fell 43.00 points, or 0.32%, to 13368.38.
Stocks were mixed last week, with the Dow falling for the fourth week in five weeks and the S & P 500 down for two weeks for the first time since February. Meanwhile, the Nasdaq index rose 0.31% last week, ending a four-week decline.
Although the tech-heavy Nasdaq rose last week, it closed lower on Friday as the price of bitcoin fell again, putting pressure on a wider range of tech stocks.
The sell-off of the cryptocurrency continued on Sunday, with Bitcoin falling about 16% to less than $32000, according to Coin Metrics.
"the rapid rise in the value of digital currencies has encountered a major deceleration this week as the prices of various cryptocurrencies have fallen sharply," strategists at Imperial Commercial Bank of Canada wrote in a report to clients. " "this asset class continues to be highly volatile, with a tweetOr public comments can lead to significant price fluctuations. "
JPMorgan Chase"despite the collapse of the cryptocurrency market this week and the tough minutes of the (FOMC) meeting of the Federal Open Market Committee, investors have bought stocks that have fallen again," it wrote in a note to clients.
"this' bargain buying 'mentality has been unusually strong this year, providing support for preventing small adjustments in the stock market and risk markets."
Looking ahead, a number of retail companies, including Nordstrom, Urban Outfitters, Gap and Ulta, will report quarterly results this week. Including Nvidia, Snowflake, WorkdayAnd SalesforceSeveral technology companies, including those, will also release quarterly updates. On the economic front, data on consumer confidence and new home sales will be released on Tuesday.
Entering the last full trading week of the month, the Dow is expected to rise in May, while the S & P 500 is expected to end its three-month rally. The Nasdaq is down more than 3 per cent this month and is expected to break its longest one-month rise since January 2018 and fall for the first time in seven years.
Small-cap stocks have also faced weakness recently after performing well so far this year, and the Russell 2000 is expected to end its seven-month rally.
Crisafulli, founder of Vital Knowledge, said: "We believe that this volatility / consolidation trend will continue for some time, and the market will experience a selling panic in the process." "although the stock market has well absorbed a lot of changes so far, all the inflection points still have longer time to play a role."