#StockFutures #WallStreet2024 #TechSectorInvestments
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Stock Futures Rise as Wall Street Enters Second Half of 2024
As I look ahead to the second half of 2024, I'm excited to see stock futures rising slightly in overnight trading on Sunday. Futures linked to the $DOW Jones Industrial Average climbed 55 points, equivalent to 0.1%, with $S&P 500 futures advancing 0.2%. Similarly, $Nasdaq-100 futures experienced a 0.2% increase.
The previous session saw a decline for the major averages, following a robust conclusion to the first half of the trading year. The $S&P 500 surged by 14.5% driven by the buzz around artificial intelligence and stocks like $Nvidia, while the $Nasdaq Composite soared by 18.1%. In contrast, the $Dow Jones Industrial Average lagged behind due to a setback in the second quarter, posting a modest 3.8% gain.
During the quarter, the $S&P and $Nasdaq recorded increases of 3.9 and 8.3%, respectively, while the $Dow registered a 1.7% loss. Notably, the $Nasdaq achieved its third consecutive positive quarter, a feat not seen in five quarters ending in 2011.
Anticipation remains high for the ongoing momentum in technology, with some projecting its continuation at least through the summer, despite concerns over soaring valuations. Lip, chief at BakerA Wealth Management, expresses optimism, stating, "We don't see evidence of slowing. If anything, you could argue that it's accelerating."
Lip foresees potential resistance in the tech sector during periods of seasonal weakness, taking into account September, October, and the election. He believes that current valuations are justified, emphasizing the resilience and robust performance of tech companies in growing their earnings consistently.
The upcoming week begins with a shortened trading schedule due to the Fourth of July holiday, with the market closed on Thursday. Investors eagerly await Friday's June jobs report for insights into the labor market.
Original Article: https://www.cnbc.com/2024/06/30/stock-market-today-live-updates.html
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