Stock Groups

Stock futures rise slightly ahead of first day of June

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Traders at the NYSE floor, May 31st 2022.

Source: NYSE

As Wall Street turns the page on another month, stock futures were slightly higher Tuesday night.

Futures that are tied to Dow Jones Industrial Average added 0.3% or 98 points. Those for the S&P 500 ticked up about 0.2%. The Nasdaq 100 futures rose 0.2%.

Futures were moved after the completion of a down day for stocks, with the Dow falling 222.8 points, or 0.7%A turbulent trading session. The S&P 500 and Nasdaq Composite dipped 0.6% and 0.4%, respectively.

For the month of May, the Dow and S&P 500 finished little changed, after last week’s strong rally chipped away at long losing streaks for the indexes. Nasdaq Composite suffered a more severe performance, losing over 2%.

Stocks could be in trouble this summer, with the Federal Reserve signaling its intention to raise rates at its next two meetings and almost finished the earnings season for the quarter.

“It is best to wait to see what the next quarter brings. A better picture will emerge when we hit late July. “Until then I believe we will see a very choppy market, with a bias towards falling further in a bear market,” stated Max Gokhman (chief investment officer, AlphaTrAI).

Salesforce is a potential source for optimism in markets over the next 24 hours. first-quarter results topped expectations. Extended trading saw the stock rise more than 7%

Investors will be able to see the most recent data on construction and manufacturing spending from Wednesday. Also, the Fed will begin reducing its balance sheet on the first day of June. Its total value soared to almost $9 trillion in the Covid pandemic.

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