Dow Futures Mini Futures Market News and Commentary
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The S&P 500 Index ($SPX) (SPY) on Wednesday closed up +0.95%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.60%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.48%.
U.S. stock indexes Wednesday rose moderately, with the S&P 500 and Dow Jones Industrials posting 1-week highs. A +13% jump in Nordstrom boosted the overall market after it raised its 2023 revenue forecast and eased concerns about a slowdown in consumer spending. Target and Walmart were slammed earlier last week after cutting their growth estimates.
Also, energy stocks gained Wednesday as the price of natural gas jumped to a 14-year high.
Stock indexes extended their gains Wednesday afternoon after the minutes of the May 3-4 FOMC meeting gave no signals that the Fed will turn more hawkish to fight inflation.
Stocks Wednesday morning initially moved lower on global growth concerns after Chinese Premier Li Keqiang said China’s economic difficulties a... Read more