S&P 500 Financials Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Friday closed up +0.15%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.10%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.09%.
U.S stock indexes on Friday traded mixed the entire day and finally settled modestly higher. Strength in airline stocks and cruise operators lifted the overall market Friday. Also, stronger than expected U.S. Aug new home sales data on Friday was supportive for stocks. Weakness in retail stocks limited the upside in the overall market after Nike sank -6% after it reported weaker-than-expected Q1 revenue.
Friday’s U.S. economic data was mostly bearish for stocks. U.S. Aug new home sales rose +1.5% m/m to a 4-month high of 740,000, stronger than expectations of 715,000.
Fed comments on Friday were bearish for stocks. Kansas City Fed President George said, "In my view, the criteria for substantial further progress has been met," and moving sooner rather... Read more