Stock futures get back in rally mode

FAN Editor

U.S. equity futures were trading higher ahead of the Wednesday session on Wall Street.

The major futures indexes suggested a gain of 0.3% when the opening bell rings.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Stocks are poised to bounce back follow a session where all three indexes had opened modestly higher before losing steam and ending the day little changed.

The retail earnings parade continues Wednesday with Dick’s Sporting Goods and Abercrombie & Fitch reporting ahead of the opening bell. After the close will come results from Williams-Sonoma and American Eagle Outfitters.

Investors have been encouraged by stronger U.S. corporate profits and consumer spending. That has kept the U.S. stock market near record highs and boosted optimism in global markets.

HOME PRICES SPIKE BY MOST IN 15 YEARS

Data due out Thursday are expected to show the biggest global economy accelerated in the first three months of this year after expanding at an annual rate of 4.3% in 2020’s final quarter. Economists expect a huge rebound this year following the deepest slump since the Great Depression of the 1930s.

Asian stock markets rose Wednesday. Tokyo’s Nikkei 225 added 0.3%, the Hang Seng in Hong Kong gained 0.9% and China’s Shanghai Composite Index rose 0.3%.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 34312.46 -81.52 -0.24%
SP500 S&P 500 4188.13 -8.92 -0.21%
I:COMP NASDAQ COMPOSITE INDEX 13657.173983 -4.00 -0.03%

On Tuesday, the S&P 500 index slipped 0.2% to 4,188.13 after spending much of Tuesday wavering between gains and losses.

The Dow Jones Industrial Average dropped 0.2% to 34,312.46. The Nasdaq fell less than 0.1% to 13,657.17.

Financial, energy and health care stocks accounted for much of the decline.

Moderna rose 3.1% after the drugmaker said its coronavirus vaccine was found to be effective in children ages 12-15.

Technology and communication stocks gained. So did big retailers, cruise lines and other companies that rely on consumer spending.

CLICK HERE TO READ MORE ON FOX BUSINESS

In energy markets, benchmark U.S. crude gained 20 cents to $66.28 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 2 cents on Tuesday to $66.07 per barrel. Brent crude, the basis for international prices, added 38 cents to $69.03 per barrel in London. It rose 19 cents the previous session to $68.65 a barrel.

The Associated Press contributed to this report.

Free America Network Articles

Leave a Reply

Next Post

Actor John Cena faces backlash in China over Taiwan comment

Actor John Cena has apologized to fans in China after he called Taiwan a country in a promotional interview for his upcoming film and became the latest celebrity to face the fury of Chinese nationalists By HUIZHONG WU Associated Press May 26, 2021, 7:21 AM • 3 min read Share […]