U.S. Market Futures Higher with Stocks Continuing to Gain

U.S. stock futures are pointing higher in pre-market trading for Tuesday, June 7. The Dow Futures are up 57.00 points to 17972.0. The S&P 500 Futures are higher at 2114.25 for a gain of 6.00 points. The Nasdaq Futures are higher at 4543.25 for a gain of 17.75 points. The Russell Futures are showing a gain of 2.80 points at 1179.1.

In overnight trading in the Eastern Hemisphere, stocks traded mostly higher. In Asia, China’s Shanghai Composite was higher at 2936.04 for a gain of 1.95 points or 0.07 percent. Japan’s Nikkei 225 was higher at 16675.45 for a gain of 95.42 points or 0.58 percent. Hong Kong’s Hang Seng Index was higher at 21328.24 for a gain of 298.02 points or 1.42 percent. In India, the S&P BSE Sensex was higher at 27009.67 for a gain of 232.22 points or 0.87 percent and the NSE Nifty was higher at 8,266.45 for a gain of 65.40 points or 0.80 percent.  The Asia Dow was higher at 2734.38 for a gain of 42.33 points or 1.57 percent. In Europe, stocks were also higher. The FTSE 100 gained 31.79 points or 0.51 percent to trade at 6305.19. Germany’s DAX was higher at 10292.07 for a gain of 170.99 or 1.69 percent. France’s CAC 40 was higher at 4477.21 for a gain of 53.83 points or 1.22 percent. The Stoxx Europe 600 was higher at 346.42 for a gain of 4.01 points or 1.17 percent. The Europe Dow was higher at 1587.93 for a gain of 20.40 points or 1.30 percent.

Tuesday’s Factors and Events

A few economic reports are on the calendar for Tuesday. Productivity and costs and consumer credit will both be reported.

Stocks trading actively in pre-market trading include Carnival Corp., Apple, PayPal, Chevron, Home Depot and TripAdvisor.

On Tuesday, pharmaceutical company Valeant will report earnings. Valeant has recently been the target of investigations into its drug pricing and the stock has fallen 71.62 percent year-to-date. It has been a top holding of many leading hedge funds in recent weeks which has weighed heavily on returns.

Monday’s Activity

On Monday, U.S. market indexes were mostly higher as market sentiment was in line with reports from Fed officials on a rate hike later in the year. Lower than expected labor market data and global issues in June, including the U.K.’s vote on whether or not to remain in the European Union, have most economists expecting a rate hike in July or September. On Monday, the Dow Jones Industrial Average was higher, closing at 17,920.33 for a gain of 113.27 points or 0.64 percent. The Standard & Poor’s 500 Index was also higher at 2,109.41 for a gain of 10.28 points or 0.49 percent. The Nasdaq Composite also gained closing at 4,968.71 for a gain of 26.20 points or 0.53 percent.


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

Other notable index closes Monday included the small-cap Russell 2000, closing at 1176.87 for a gain of 12.74 points or 1.09 percent; the S&P 600 closing at 717.38 for a gain of 7.83 points or 1.10 percent; the S&P 400 Mid-Cap Index closing at 1512.82 for a gain of 11.92 points or 0.79 percent; the Russell 3000 closing at 1245.73 for a gain of 6.91 points or 0.56 percent; and the Dow Jones U.S. Select Dividend Index closing at 600.31 for a gain of 3.32 points or 0.56 percent.

Julie Young

[email protected]

Julie Young is a Senior Market Reporter and Analyst

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