U.S. stock futures were mostly flat Monday morning

Posted on March 30, 2020

Dow Jones Industrial Average futures were up 60 points, pointing to an opening slip of about 10 points. S&P 500 futures were also slightly lower, and Nasdaq 100 futures were up by 0.5%. Earlier, futures had pointed to opening gains.

A 5% drop in crude prices weighed on the market as big declines in oil has triggered selling in other areas of the markets. West Texas Intermediate crude futures were last seen at $20.36.

The Dow last week posted its biggest weekly gain since 1938, surging more than 12%. The S&P 500 and Nasdaq are coming off their best week since 2009, after rising 10.3% and 9.1%, respectively. To be sure, it was a volatile ride for investors. The S&P 500 posted daily swings of at least 2.9% in four of the five sessions. That includes a 3.4% drop on Friday for the S&P 500.

The sharp gains last week were sparked in part by the prospect of massive fiscal and monetary stimulus. President Donald Trump signed into law Friday a $2 trillion stimulus package that includes direct payments to curb the economic blow from the outbreak. The Federal Reserve also launched a series of measures to sustain the economy, including an open-ended asset-purchase program.