U.S. Market Futures Pointing Higher for Further Gains

U.S. stock futures are pointing higher in pre-market trading for Wednesday, June 29. The Dow Futures are up 99 points to 17400.0. The S&P 500 Futures are up 12.25 points to 2040.75. The Nasdaq Futures are up 29.75 points to 4310.75. The Russell Futures are showing a gain of 8.80 points at 1113.9.

In overnight trading in the Eastern Hemisphere, stocks traded higher. China’s Shanghai Composite was higher at 2931.59 for a gain of 19.03 points or 0.65 percent. Japan’s Nikkei 225 was higher at 15566.83 for a gain of 243.69 points or 1.59 percent. Hong Kong’s Hang Seng Index was higher at 20436.12 for a gain of 263.66 points or 1.31 percent. India’s S&P BSE Sensex was higher at 26740.39 for a gain of 215.84 points or 0.81 percent. In Europe, stocks were also higher. The FTSE 100 was higher at 6284.03 for a gain of 143.64 points or 2.34 percent. Germany’s DAX was higher at 9620.40 for a gain of 173.12 points or 1.83 percent. France’s CAC 40 was higher at 4194.73 for a gain of 105.88 points or 2.59 percent. The Stoxx Europe 600 was higher at 323.86 for a gain of 7.16 points or 2.26 percent.

Wednesday’s Factors and Events

A few leading economic reports are on the calendar for Wednesday. Personal Income and Outlays will be reported at 8:30 AM EST. The Personal Income and Outlays report includes one of the Fed’s leading gauges for inflation, the PCE Price Index. Wednesday’s economic reports will also include the following: the Mortgage Bankers Association’s Mortgage Applications report, pending home sales and the EIA Petroleum Status report.

The following stocks are trading actively in pre-market trading: Chesapeake Energy, Darden Restaurants, Western Digital, PayPal Holdings, ConocoPhillips, Nike, Comerica, Zions Bancorp, American Airlines and Medtronic.

Earnings reports on the calendar for the day include the following: AGF Management Ltd., Acuity Brands, Inc., Empire Company Ltd., General Mills, Inc., Monsanto Company, OMNOVA Solutions Inc., Tel-Instrument Electronics, Unifirst Corporation, AMEDISYS Inc., 8point3 Energy Partners LP, EXFO, Inc., Investors Real Estate Trust, Ossen Innovation Co., Ltd., Pier 1 Imports Inc., Progress Software Corporation and Xplore Technologies Corp.

Brexit will continue to be a factor for stocks globally. European Union leaders are meeting in Brussels to plan for the U.K.’s exit. Meanwhile, telecom firm Vodafone is one company considering to move its headquarters out of the United Kingdom after the Brexit vote.

Tuesday’s Activity

In the U.S., the leading stocks indexes were higher. On Tuesday, the Dow Jones Industrial Average closed at 17409.72 for a gain of 269.48 points or 1.57 percent. The S&P 500 was also higher, closing at 2036.09 for a gain of 35.55 points or 1.78 percent. The Nasdaq Composite closed higher at 4691.87 for a gain of 97.42 points or 2.12 percent.


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

Other notable index closes included the S&P 400 Mid-Cap Index which closed at 1442.50 for a gain of 25.84 points or 1.82 percent; the S&P 100 closing at 902.36 for a gain of 14.98 points or 1.69 percent; the Russell 3000 closing at 1198.45 for a gain of 21.10 points or 1.79 percent; the Russell 1000 closing at 1126.44 for a gain of 19.98 points or 1.81 percent; and the Dow Jones U.S. Select Dividend Index closing at 591.19 for a gain of 7.32 points or 1.25 percent.

Julie Young


Julie Young is a Senior Market Reporter and Analyst

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