The U.S. index futures are seen pulling back on Monday following buoyant performances in the week ended Aug. 12.
At the time of going to press, the S&P 500 futures and Nasdaq 100 futures were retreating 0.56% each. The Dow futures were down a more modest 0.44%. As seen for much of last week, small-caps could underperform, as reflected by the 0.76% pullback by the Russell 2000 futures. "In the U.S., we are in the 'dog days of summer' and the stock market is expected to meander listlessly on light trading volume for the remainder of August. Since CNBC was touting "meme" stocks last week and there was a lot of short covering in low quality companies, I am expecting that the stock market will begin to consolidate after an incredible run since June 16th," Louis Navellier, Founder Of Navellier & Associates told Benzinga.
