#StockFutures #WallStreet2024 #EconomicForecast
Stock Futures Rise as Wall Street Enters Second Half of 2024
As I turn my attention to the second half of 2024, I'm seeing a slight increase in stock futures overnight on Sunday. Futures linked to the $DOW Jones Industrial Average surged by 25 points, with $S&P 500 futures and $Nasdaq-100 futures also rising 0.15% each.
The market has seen significant growth in the first half of the year, driven by enthusiasm surrounding artificial intelligence and prominent stocks like $Nvidia. The $S&P 500 recorded a 14.5% increase, while the $Nasdaq Composite surged by 18.1%. In contrast, the $Dow Jones Industrial Average lagged behind due to a setback in the second quarter, registering a 3.8% rise.
During the quarter, the $S&P and $Nasdaq saw gains of 3.9% and 8.3%, respectively, while the $Dow experienced a 1.7% decline. Notably, the $Nasdaq achieved its third consecutive positive quarter, a feat not seen since the five-quarter streak ending in 2021.
Despite concerns about elevated valuation levels, many anticipate the ongoing momentum in technology-driven stocks to persist at least through the summer. I'm confident in the sector's resilience, foreseeing potential challenges during seasonal weakness in September and October, as well as around the election period.
As the market gears up for a holiday-shortened trading week, with the closure on Thursday for the Fourth of July, investor attention will be drawn to the June jobs report on Friday, offering crucial insights into the labor market's status. Additionally, Monday will see the release of $P PMI and ISM data for June alongside May construction spending figures.
Original Article: https://www.cnbc.com/2024/06/30/stock-market-today-live-updates.html
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