S&P Midcap E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) on Tuesday closed down -0.15%, the Dow Jones Industrials Index ($DOWI) closed down -0.07%, and the Nasdaq 100 Index ($IUXX) closed up +0.05%.
U.S stock indexes on Tuesday settled mixed. Stocks gained early Tuesday and the S&P 500 climbed to a new record high on better-than-expected U.S. economic data and the IMF's hike in its global growth estimate for this year. However, stocks gave up most of their gains on Covid concerns, along with doubts about when Congress will approve new stimulus measures.
Tuesday's U.S. economic data was bullish for stocks. The Nov S&P Core Logic composite-20 home price index rose +9.5% y/y, stronger than expectations of +8.9% y/y and the fastest pace of increase in 6-3/4 years. Also, the Conference Board's U.S. Jan consumer confidence index rose +2.2 to 89.3, stronger than expectations of 89.0.
Stocks garnered support Tuesday from the IMF's hike in its 2021 global growth outlook to 5.5% fr... Read more