S&P 500 E-Mini Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) this morning is down by -0.08%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.21%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.56%.
U.S stock indexes this morning are mixed. Weakness in technology stocks is weighing on the overall market. Also, a -6% slump in Nike is dragging retail stocks lower. U.S. stock indexes recovered from their worst levels after U.S. Aug new home sales rose more than expected to a 4-month high.
Today’s U.S. economic data was bullish for stocks. U.S. Aug new home sales rose +1.5% m/m to a 4-month high of 740,000, stronger than expectations of 715,000.
Comments today from Cleveland Fed President Mester were bearish for stocks when she said upside risks to inflation outweigh downside risks, and she supports tapering asset purchases in November.
The 7-day average of new U.S. Covid infections fell to 126,169 on Thursday, a 6-week low.
Today’s stock movers... Read more