traders on the floor of the nyse aug 4 2022 stock futures inched higher in overnight trading after stocks finished their worst day since june and wall streets summer rally faded amid mounting rate hike concerns futures tied to the dow jones industrial average added 40 points or 012 while sp 500 and nasdaq 100 futures inched 06 and 01 higher respectively zoom slumped in extended trading after lowering its fullyear forecast while palo alto networks surged after posting strong quarterly results during mondays regular trading session the dow slumped 64313 points or 191 to 3306361 while the sp tumbled 214 to 413799 the worst day for both benchmarks since june 16 the nasdaq composite dropped 255 to 1238157 to finish its worst day since june 28 mondays selloff was broadbased with all 11 sp 500 sectors closing lower led by declines in information technology and consumer discretionary stocks a slide in tech stocks weighed down the techheavy nasdaq the global growth story is in shambles right now said ed moya a senior market analyst at oanda thats whats really kind of weighing on risk appetite right now because you cant have the us continue to be attractive while the rest of the world is crumbling this sentiment will continue to put pressure on big tech and consumer discretionary stocks he said moya echoing other investors expects another round of hawkish pushback from fed chair jerome powell when he speaks friday at the central banks annual jackson hole economic symposium earnings season continues tuesday with results from macys nordstrom and dicks sporting goods july new home sales will also be reported along with august manufacturing pmi and the august richmond fed survey