US stock index futures remained largely unchanged during the night trading next Tuesday. Quiet action on June 1st..
Futures contracts linked to the Dow Jones Industrial Average rose only 23 points. Both the S & P 500 futures and the Nasdaq 100 futures are above the flat line.
In a normal transaction, the Dow rose more than 300 points at 1 point and then 47 points, or 0.14%. S & P broke the three-day streak record and closed just two points. Nasdaq Composite was below relative performance, down 0.09% in the second negative session in three sessions.
Despite the calm movements, there were some stocks that rose during the session, especially those related to resumption. Airlines and cruise companies have seen their stocks skyrocket as the number of people infected with the new coronavirus continues to decline in the United States.
While key averages remain near record highs, inflation concerns and the Federal Reserve Board’s response have weighed on recent sentiment.
“The market is still strong,” said Cliff Hodge, Chief Investment Officer at Cornerstone Wealth. “Economic growth is strong, financial conditions continue to be very easing, and as the number of people infected with the virus declines and the economy resumes, consumers are flooded with stimulating cash.”
The S & P 500 and Dow are down 0.8% and 1.5%, respectively, from May records. The Nasdaq has a little more room to make up for, following a rotation from the growth-oriented territory of the market. The tech index is currently up 3.3% from its April record high.
Morgan Stanley strategists say they prefer defensive, affordable, high-quality stocks during the mid-term transition.
“We believe that good execution and revenue stability during the reopening phase are the characteristics that reward the market.” The company wrote in a memo to the customer..
Energy was the highest performing S & P 500 group on Tuesday following a surge in crude oil prices. West Texas Intermediate Crude oil futures are at their highest level in more than two years.
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Equity futures remain largely unchanged after the start of silence until June
Source link Equity futures remain largely unchanged after the start of silence until June