U.S. Futures Down After S&P 500 Hits Second Consecutive Day in Green
U.S. futures were down Thursday morning after the S&P 500 index (SPX) rose yesterday and marked the second consecutive day in the green. Futures on the Nasdaq 100 (NDX), the S&P 500, and the Dow Jones Industrial Average (DJIA) were down by about 0.35%, 0.25%, and 0.24%, respectively, at 4:40 a.m. EST, June 27.
Yesterday, all three major indices closed higher, driven by a strong rally in mega-cap technology stocks. Amazon (AMZN) stock gained about 4% to hit an all-time high and crossed the $2 trillion market cap. Overall, the S&P 500, the Nasdaq Composite, and the Dow Jones indices gained 0.2%, 0.5%, and 0.04%, respectively.
In major stock market news, Micron (MU) stock declined over 6% in the extended trading session despite better-than-expected fiscal third-quarter results. Levi Strauss (LEVI) was down 12% after reporting Q2 revenue below analysts’ expectations. Shares of AeroVironment (AVAV) closed about 6% lower in after-hours trading, even after beating fiscal Q4 estimates.
Economic reports on Durable Goods Orders, Pending Home Sales, and Initial Jobless Claims data are scheduled for release today. Walgreens Boots Alliance (WBA), McCormick & Company (MKC), Nike (NKE), and Simply Good Foods (SMPL) will announce results today.
The U.S. 10-year treasury yield was up, floating near 4.34%, while WTI crude oil futures trended higher, hovering near $81.26 per barrel.
In Asia-Pacific markets, indices closed in the red as investors looked ahead to Purchase Managers’ Index data from China. Hong Kong’s Hang Seng index closed lower by 2.06%, Japan’s Nikkei and Topix indices traded down by 0.82% and 0.33%, respectively, and China’s Shenzhen Component and Shanghai Composite indices declined by 0.9% and 1.53%, respectively.
European markets opened mixed on Thursday as investors awaited key inflation reports from the U.S. and preliminary figures for France, Spain, and Italy. Stay tuned for more economic insights.
