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Stock futures rose Monday night after a rough week, as investors assessed the Federal Reserve’s aggressiveness and increased chances of a recession.

Futures on Dow Jones Industrial Average gained over 250 points. Futures on the S&P 500 climbed 1.1%, while futures on the Nasdaq 100 climbed 1.1%. The U.S. stock market was closed Monday morning for Juneteenth.

Major averages are currently experiencing their 10th consecutive losing week. This is due to fears that the central banks will raise rates aggressively to control inflation and avoid an economic downturn. Last week, the S&P 500 lost 5.8%. This was its largest weekly loss since March 2020. It is now deeper in bear market territory. The equity benchmark is now at 23% of its record high in January.

Blue-chip Dow fell 4.8% last week and was below 30,000 for first time since January 2021. Tech-heavy Nasdaq Composite fell 4.8% last week, 33% below its record high.

Mark Hackett, Nationwide’s chief investment research officer, stated that the recent decline in equity markets and inflections in investor attitudes make it more difficult to formulate a bottoming thesis. “Investors act emotionally, but the weaknesses in the technicals are starting to show up in the fundamentals,” said Hackett.

Congress will hear testimony from Fed Chair Jerome Powell on Wednesday and Thursday. He will testify before Congress following a rate increase of three-quarters percent, which was the largest increase in central bank rates since 1994.

Investors will be monitoring incoming data on Tuesday, including home sales, in order to assess the health of the economy. Recent data has shown that low consumer confidence, declining retail spending, and a cooling housing sector have all contributed to recession fears. The Fed is fighting inflation at its 41-year highs.

The roller coaster ride of cryptocurrencies continued. Bitcoin dropped to $17,601.58 on the weekend. However, it rebounded above $20,000 on Monday. 70% of the world’s largest cryptocurrency market cap is still below its November record.