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U.S. stocks attempt to find footing after third straight weekly pullback

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U.S. stocks were mostly higher early Monday, attempting to stabilize after a run of three straight weekly declines.

U.S. stock futures moved higher early Monday, attempting to find their footing after a third-straight losing week attributed to a surge in bond yields and worries about China’s economy that have been amplified by worries over the country’s property sector.

What’s driving markets Futures are striving to find their footing as Wall Street comes off a three-week losing streak. The rising borrowing costs have been a particular problem for some of the big technology stocks that tend to lead the market, according to Innes. However, Tom Lee, head of research at Fundstrat, reckons the recent selloff will be halted at or before Federal Reserve Chairman Jay Powell makes a speech at the Jackson Hole symposium at the end of the week.

 

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