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U.S. Stock Futures Rebound Ahead of Q2 End


Investors breathed a sigh of relief on Tuesday after several difficult sessions as the June quarter end looms. Bulls are looking to re-take control early Tuesday, with S&P 500 futures up 0.3%, or 12 points, to 4382. Dow Jones Industrial Average futures rose 53 points, or 0.2%, to 34024, while Nasdaq 100 futures gained 68 points, or 0.5%, to 14924.

How are Stock-Index Futures Trading?

  • S&P 500 futures ES00, +0.15% rose 12 points, or 0.3%, to 4382
  • Dow Jones Industrial Average futures YM00, +0.03% added 53 points, or 0.2%, to 34024
  • Nasdaq 100 futures NQ00, +0.28% gained 68 points, or 0.5%, to 14924

On Monday, the Dow Jones Industrial Average fell by 13 points, or 0.04%, to 33715. Similarly, the S&P 500 declined by 20 points, or 0.45%, to 4329, and the Nasdaq Composite dropped by 157 points, or 1.16%, to 13336 in one of its worst performances in the past few weeks due to concerns over an economic slowdown.

“The last trading week of both the quarter and the half-year will usually result in some portfolio rebalancing, particularly given the strength of the mega-cap technology stocks so far this year,” said Richard Hunter, head of markets at Interactive Investor.

Shares in Nvidia (NVDA), one of the recently high-flying tech firms that have seen strong gains this year but were down by 5.5% over the past five days, were moderately up in pre-market trade.

Financial Markets Respond to Interest Rates and Economic Predictions

Financial markets have experienced a shaky start to the week, triggered by the diminishing rate cut bets for the Federal Reserve. The anticipated rate cut of 25 basis points to a range of 5.25% to 5.50% is predicted to take place towards the end of July, with no reductions anticipated until spring 2024 according to current market pricing. This has caused anxiety and fostered hesitation among investors.

However, comments from China’s premier Li Qiang on Tuesday provided some stabilizing hope for risk appetite. Reassuring statements about the country’s economic growth, along with planned policies to expand domestic demand and open markets helped the Hang Seng index HSI, +1.88% to rally by 1.9%. Industrial commodities like copper HG00, +0.01%, also show signs of improvement.

On Tuesday, there are several significant economic updates due for release, including durable goods orders for May at 8:30 a.m., the S&P Case-Shiller home price index for April at 9 a.m., May’s new home sales at 10 a.m., and alongside June’s consumer confidence reading. All times are Eastern.

Stay tuned for more updates on financial market trends and economic predictions.

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