Dow Futures Mini Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Wednesday closed up +0.36%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.23%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.62%.
Stock indexes Wednesday recovered from overnight losses and moved moderately higher, with the S&P 500, Dow Jones Industrials, and Nasdaq 100 climbing to 1-week highs. Better-than-expected U.S. economic reports Wednesday, including May JOLTS job openings and Jun ISM services, were bullish for stocks.
The indexes initially moved lower Wednesday on concern about a global recession. Also, negative carry-over from a -1.4% slide in China’s Shanghai Composite to a 1-1/2 week low Wednesday undercut U.S. stock indexes on concern that rising Covid infections in China will lead to additional lockdowns in China that stifle economic growth and snarl global supply chains.
The upside in stocks Wednesday was limited by an increase in T-note yields and hawkish minutes o... Read more