traders on the floor of the new york stock exchange stock futures were lower sunday night as the markets come out of a tumultuous week that started with a relief rally but saw losses in the latter half futures connected to the dow jones industrial average slid 03 to 29225 points sp 500 dropped 04 to 3638 points while nasdaq 100 futures slipped 04 to 1105675 points market participants felt whiplash last week the first half brought a relief rally that pushed the sp 500 up more than 5 in its largest twoday gain since 2020 but jobs data that economists say will keep the federal reserve on a path to continue raising interest rates and opecs decision to slash oil supply rattled investors diluting wins later in the week when day trading ended friday the sp was up 15 compared to where it started the week the dow and nasdaq were up 15 and 07 respectively still the dow sp 500 and nasdaq had the first positive week in the last four all remain down substantially so far in 2022 however and the nasdaq is less than 1 away from its 52week low meanwhile the 2year treasury yield rose 6 basis points closing at 4316 one basis point is equivalent to 001 the direction of the stock market is likely to be lower because either the economy and corporate profits are going to slow meaningfully or the fed is going to have to raise rates even higher and keep them higher for longer said chris zaccarelli chief investment officer at independent advisor alliance on friday given the conditions that we are operating under we believe its prudent to begin preparing for a recession he added the talk of a shallow recession that is now the narrativedujour strikes us as eerily similar to the inflation is transitory narrative of last year last week brought heightened concerns that corporate earnings will show the ugly side of a surging dollar as levi strauss became the latest to cut guidance due to sliding international sales market observers generally consider the week ahead the kickoff to earnings season with four of the worlds largest banks – jpmorgan  wells fargo  morgan stanley and citi – reporting friday pepsico  delta and dominos are also among companies reporting next week