Equity futures flat after Dow, S & P 500 break records


After the S & P 500 and the Dow Jones Industrial Average closed on new records, Wednesday night trading saw little change in US stock index futures.

Futures contracts related to the Dow Jones Industrial Average are one inch higher, but S & P 500 futures have not changed. Nasdaq 100 futures were slightly lower.

During regular trading on Wednesday, the S & P 500 rose 0.14%, breaking its 70th record this year. This is the second highest record closing price in the calendar year benchmark index, following the highest record closing price of 77 in 1995.

The Dow rose 90 points (0.25%), breaking the record since November. The 30-stock benchmark showed six consecutive positive sessions. However, the Nasdaq Composite Index fell 0.1%. Chip stocks were under pressure and AMD, Xilinx and Nvidia all fell by at least 1%.

Travel-related stocks also fell amid ongoing Covid-19 concerns, with the NYSE Arca Airline Index falling 2.5%.

Conversely, many consumer stocks such as Domino’s Pizza, McDonald’s, Yum! Brands, Costco and Procter & Gamble hit record highs during the session.

The three major averages for December are all green. The Nasdaq Composite Index has risen for the third straight month, while S & P and the Dow have been moving at a positive pace for the second month in the last three months.

Wednesday’s ascending action against the Dow and S & P continued a historically strong period of stock called the “Santa Claus Rally.” According to Bank of America, the S & P 500 made a profit for 78.5% of the period since 1928, the last five trading days of the year, followed by the first two sessions in January.

Scott Ren, Senior Global Market Strategist at the Wells Fargo Investment Institute, said:

With only two trading days left in 2021, key averages are also on track green until the end of the year. The S & P and Dow are up 27.6% and 19.2%, respectively. Nasdaq increased by 22.3% and Russell 2000 increased by 13.9%.

“2021 was a great year for the stock market,” said Anu Gaggar, Global Investment Strategist at the Commonwealth Financial Network. “The market is the best possible between federal stimulus to sustain the economy, the Fed’s easy monetary policy to maintain market liquidity and low interest rates, and continuous health improvement leading to amazing growth. It was in the world, “she added.

Looking to the future, Gaggar said that 2022 performance will depend on earnings and stock valuations.

Rising Treasury yields could be a headwind for 2022, especially in the growth-oriented areas of the market. Yields on US 10-year government bonds exceeded 1.5% on Wednesday.

Lawrence Gillam, a fixed income strategist at LPL Financial, said: “The Treasury’s yield forecast for the last 10 years of 2022 is 1.75 to 2.00%.”

Equity futures flat after Dow, S & P 500 break records

Source link Equity futures flat after Dow, S & P 500 break records

The post Equity futures flat after Dow, S & P 500 break records appeared first on Eminetra.


Please enter your comment!
Please enter your name here

Share post:


More like this

Uniswap: Why Ethereum whales are not the agents needed for a ‘twist of fate’

Uniswap broke into the top cryptocurrencies held by...

Sick Psycho Protesters Scream at Ashli Babbitt Mother at Solidarity Rally (VIDEO)

The left is sick. Earlier today, patriots gathered in Washington,...

DOGE and SHIB Price Analysis for September 24

Disclaimer: The opinion expressed here is not investment advice...

Quadruple Vaxxed Pfizer CEO Albert Bourla Tests Positive for COVID Again

Quadruple vaxxed Pfizer CEO Albert Bourla announced he tested...