S&P Midcap E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) this morning is down -0.26%, the Dow Jones Industrials Index ($DOWI) is down -0.45%, and the Nasdaq 100 Index ($IUXX) is up +0.10%.
U.S. stock indexes this morning gave up most of their overnight gains and are mixed. A slump in European stocks to a 4-1/2 month low today is undercutting U.S. stock indexes, along with an unexpected decline in U.S consumer confidence. Technology stocks are higher on M&A activity as chipmakers rallied after AMD agreed to buy Xilinx for $35 billion in an all-stock deal.
A bearish factor for U.S. stocks is the lack of a new pandemic stimulus plan. House Speaker Pelosi and Treasury Secretary Mnuchin were unable to come to an agreement Monday on a new U.S. pandemic relief package. U.S. senators left Washington late Monday for a pre-election break, which reduces the chances of a stimulus package before next week's election.
Weakness in European stocks today is also helping to drag U.S. stock indexes lower. The Eu... Read more