U.S. Market Futures Higher as Stocks Likely to Gain Further

U.S. stock futures are higher in pre-market trading for Wednesday, June 8. The Dow Futures are up 19.00 points at 17952.0. The S&P 500 Futures are higher at 2113.0 for a gain of 2.75 points. The Nasdaq Futures are higher at 4518.5 for a gain of 4.25. The Russell Futures are showing a gain of 0.30 points at 1179.7.

In overnight trading in the Eastern Hemisphere, stocks in Asia were mixed. China’s Shanghai Composite was at 2927.16 for a loss of -8.89 points or -0.30 percent. Japan’s Nikkei 225 was at 16830.92 for a gain of 155.47 points or 0.93 percent. Hong Kong’s Hang Seng Index was at 21297.88 for a loss of -30.36 points or -0.14 percent. In India the S&P BSE Sensex was at 27020.66 for a gain of 10.99 points or 0.04 percent and the NSE Nifty was at 8,273.05 for a gain of 6.60 points or 0.08 percent. In Europe, stocks were mostly lower. The FTSE 100 was lower at 6281.85 for a loss of -2.68 points or -0.04 percent. Germany’s DAX was lower at 10238.86 for a loss of -48.82 points or -0.47 percent. France’s CAC 40 was lower at 4458.73 for a loss of -17.13 points or -0.38 percent. The Stoxx Europe 600 was at 344.84 for a loss of -1.42 points or -0.41 percent.

Wednesday’s Factors and Events

The economic calendar is light on Wednesday with few economic indicators to be released. The Mortgage Bankers Association will report mortgage applications. The Energy Information Administration will also report the Petroleum Status report. Additionally, the Quarterly Services Survey will also be released.

In the pre-market, stocks trading actively include Berkshire Hathaway, Facebook, Nike and Johnson & Johnson.

A few global factors will be influencing trading Wednesday. Trade data reported in China saw an improvement from the previous month with imports rising. In Japan, GDP was also revised higher to 1.9 percent from 1.7 percent.

Stocks on watch for the day include Gevo and Samsung. Gevo reported its first flights with renewable alcohol-based jet fuel on Tuesday. Meanwhile, Samsung is reportedly taking orders to supply Tesla with batteries for the car manufacturer’s new Model 3.

A few companies will also report earnings on Wednesday including Comtech Telecomunication, Oil-Dri Corporation of America and ABM Industries.

Tuesday’s Activity

On Tuesday, stocks traded mostly flat with minimal volatility. For the day the Dow Jones Industrial Average gained 17.95 points or 0.10 percent to 17938.28. The S&P 500 was also higher, closing at 2112.13 for a gain of 2.72 points or 0.13 percent. The Nasdaq Composite closed lower at 4961.75 for a loss of -6.96 points or -0.14 percent.


Source: DJIA, S&P 500 and Nasdaq Composite. Google Finance.

Other notable index closes from Tuesday included the small-cap Russell 2000, higher for the day at 1179.97 for a gain of 3.10 points or 0.26 percent; the S&P 600 closing at 720.15 for a gain of 2.77 points or 0.39 percent; the S&P 400 Mid-Cap Index closing at 1518.74 for a gain of 5.92 points or 0.39 percent; the Russell 3000 closing at 1247.68 for a gain of 1.96 points or 0.16 percent; and the Dow Jones U.S. Select Dividend Index closing at 602.31 for a gain of 2.00 points or 0.33 percent.

Julie Young


Julie Young is a Senior Market Reporter and Analyst

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