S&P Midcap E-Mini Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Thursday closed up +1.99%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +1.61%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +2.79%.
U.S. stock indexes Thursday rallied moderately, with the S&P 500 and Nasdaq 100 posting 1-week highs and the Dow Jones Industrials posting a 2-1/2 week high. Strong outlooks from two retailers eased concerns about consumer spending and lifted the overall market. Dollar Tree closed up more than +21%, and Macy’s closed up more than +18% after reporting better-than-expected Q1 sales. Thursday’s U.S economic data was mixed for stocks.
Stocks on Thursday also had carry-over support from Wednesday afternoon when the minutes of the May 3-4 FOMC meeting suggested the Fed will not tighten monetary policy more aggressively than already expected. Homebuilding stocks moved higher Thursday after data from Freddie Mac a decline in mortgage rates as the 30-year loan fell -15 b... Read more