S&P Midcap E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) on Wednesday closed up +0.78%, the Dow Jones Industrials Index ($DOWI) closed up +0.68%, and the Nasdaq 100 Index ($IUXX) closed up +1.36%.
U.S. stock indexes on Wednesday moved higher throughout the day, propelled by gains in technology stocks with the Nasdaq 100 just below Tuesday's all-time high. Stocks had carry-over support from a +1.74% rally in China's Shanghai Composite to a new 17-month high on optimism that containment of the coronavirus in China will allow its economy to rebound and lead the global economic recovery.
Strength in mining stocks and metals producers are also helping to boost the overall market as the price of gold on Wednesday surged to an 8-3/4 year high, and the price of silver climbed to a 10-month high.
Wednesday's U.S. economic data was bearish for stocks after U.S. May consumer credit fell -$18.28 billion, weaker than expectations of -$15.00 billion.
Comments on Wednesday from Atlanta Fed President B... Read more