U.S. Market Futures Pointing Higher as Stocks Recover

U.S. stock futures are pointing higher in pre-market trading for Tuesday, June 28. The Dow Futures are up 195.00 points to 17180.0. The S&P 500 Futures are up 21.75 points to 2006.75. The Nasdaq Futures are higher at 4224.0 for a gain of 46.00 points. The Russell Futures are showing a gain of 12.10 points at 1091.7.

In overnight trading in the Eastern Hemisphere China’s Shanghai Composite is at 2912.56 for a gain of 16.85 points or 0.58 percent. Japan’s Nikkei 225 is at 15323.14 for a gain of 13.93 points or 0.09 percent. Hong Kong’s Hang Seng Index is at 20172.46 for a loss of -54.84 points or -0.27 percent. India’s S&P BSE Sensex is at 26524.55 for a gain of 121.59 points or 0.46 percent. In Europe, the FTSE 100 is at 6126.27 for a gain of 144.07 points or 2.41 percent. Germany’s DAX is at 9468.98 for a gain of 200.32 points or 2.16 percent. France’s CAC 40 is at 4091.63 for a gain of 106.91 points or 2.68 percent. The Stoxx Europe 600 is at 316.58 for a gain of 7.83 points or 2.54 percent.

Tuesday’s Factors and Events

Stocks are pointing higher as leading U.S. economic reports are on the calendar for Tuesday. At 8:30 AM EST the GDP report will be released also including corporate profits. Also on the calendar for Tuesday is the S&P Case-Shiller HPI and consumer confidence.

Stocks trading actively in pre-market trading for Tuesday include Applied Materials, Metlife, Bank of America and Reynolds American.

Stocks with earnings reports on Tuesday include Nike Inc., Barnes & Noble, Carnival Corporation, Eros International, FactSet Research, CalAmp Corp., mCig, Inc. and AeroVironment.

Stocks are trending higher with a key focus on the U.S. economic indicators on Tuesday. However, Brexit risks still continue to remain a factor. The U.K.’s debt rating was downgraded to AA by both Standard and Poor’s and Fitch Ratings. High volatility in currency trading is also likely to remain on Tuesday as both the pound and euro weaken.

Monday’s Activity

In the U.S., the leading stock indexes were lower. On Monday, the Dow Jones Industrial Average closed at 17140.24 for a loss of -260.51 points or -1.50 percent. The S&P 500 was also down, closing at 2000.54 for a loss of -36.87 points or -1.81 percent. The Nasdaq Composite closed lower at 4594.44 for a loss of -113.54 points or -2.41 percent.

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

Other notable index closes in the U.S. included the small-cap Russell 2000, lower for the day at 1089.65 for a loss of -37.89 points or -3.36 percent; the S&P 600 closing at 670.90 for a loss of -21.11 points or -3.05 percent; the S&P 400 Mid-Cap Index, closing at 1416.66 for a loss of -40.93 points or -2.81 percent; the S&P 100 closing at 887.38 for a loss of -13.13 points or -1.46 percent; the Nasdaq 100 closing at 4201.05 for a loss of -84.65 points or -1.98 percent; the Russell 3000 closing at 1177.35 for a loss of -24.28 points or -2.02 percent; the Russell 1000 closing at 1106.46 for a loss of -21.58 points or -1.91 percent; and the Dow Jones U.S. Select Dividend Index closing at 583.87 for a loss of -8.84 points or -1.49 percent.

Julie Young

[email protected]

Julie Young is a Senior Market Reporter and Analyst

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