U.S. stock futures pointed to a broadly flat start on Monday, suggesting Wall Street could struggle for direction as investors look ahead to Nvidia's (NASDAQ:NVDA) quarterly results and the Jackson Hole economic symposium later this week.
The muted outlook follows Friday's rebound, when the major indices recovered some ground after Thursday's sharp sell-off. Despite those gains, all three benchmarks still recorded sizeable losses for the week.
Futures had initially indicated a weaker open before recovering following a CNBC report about the Treasury Department's recently announced plans to increase buybacks of longer-dated government debt.
Citing two senior Treasury officials, CNBC reported that the department could draw on its nearly $1 trillion General Account to help finance plans to double the scale of its debt repurchases.
Treasury yields moved lower following the report, with the 10-year yield retreating after climbing substantially during the previous two sessions amid renewed concerns over U.S. government debt.
#cnbc #week #plans #government
The muted outlook follows Friday's rebound, when the major indices recovered some ground after Thursday's sharp sell-off. Despite those gains, all three benchmarks still recorded sizeable losses for the week.
Futures had initially indicated a weaker open before recovering following a CNBC report about the Treasury Department's recently announced plans to increase buybacks of longer-dated government debt.
Citing two senior Treasury officials, CNBC reported that the department could draw on its nearly $1 trillion General Account to help finance plans to double the scale of its debt repurchases.
Treasury yields moved lower following the report, with the 10-year yield retreating after climbing substantially during the previous two sessions amid renewed concerns over U.S. government debt.
#cnbc #week #plans #government
1 day ago
