S&P Midcap E-Mini Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) Tuesday closed up +0.190%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.71%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.23%.
Stocks on Tuesday settled mixed, with the S&P 500 and Dow Jones Industrials posting 3-3/4 month highs. A rally in big-box retailers Tuesday was supportive for the overall market after Walmart jumped more than +5% when it reported better-than-expected Q2 EPS and modestly improved its full-year sales forecast. Also, cruise line operators rallied Tuesday, led by a +4% jump in Carnival after it said cruise line bookings surged after some pandemic restrictions were lifted.
The Nasdaq 100 fell back from a 3-3/4 month high Tuesday and finished moderately lower as a jump in T-note yields undercut technology stocks. The 10-year T-note yield Tuesday rose +3.2 bp to 2.820%. Also, concerns about the global economy weighed on the overall market Tuesday after Monday’s econ... Read more