U.S. futures were near the flatline on Monday morning as investors turned their attention to the final trading week of June. Futures on the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up by about 0.16%, 0.1%, and 0.01%, respectively, at 3:54 a.m. EST, June 24.
In the previous week, all three indices witnessed gains as the excitement over the artificial intelligence-fueled rally within the technology sector continued. Importantly, the S&P 500 and the Nasdaq Composite posted new record highs at the beginning of the week, particularly due to a surge in NVIDIA (NVDA) stock. Overall, the SPX and the Nasdaq Composite indices closed higher by 0.75% and 0.39%, respectively. Meanwhile, the Dow Jones experienced a 1.61% gain during the period.
Turning to this week’s economic reports, investors are awaiting the final estimate for first-quarter Gross Domestic Product (GDP) growth, scheduled for release on Thursday. Additionally, Friday brings a flurry of data points, including May’s Core Personal Consumption Expenditures (PCE) data, May’s Personal Income and Personal Spending figures, and the preliminary reading of the June Michigan Consumer Sentiment Index.
On the earnings front, Carnival (CCL), FedEx (FDX), Micron (MU), Levis (LEVI), Nike (NKE), Walgreens Boots Alliance (WBA), and General Mills (GIS) will announce results this week.
Meanwhile, the U.S. 10-year treasury yield was down at the time of writing, floating near 4.25%. At the same time, WTI crude oil futures trended lower, hovering near $80.64 per barrel as of the last check.
Elsewhere, European stocks opened mixed today as investors awaited the release of key U.S. inflation reports and monetary policy decisions from Sweden and Turkey’s central banks.
Asia Pacific Markets Traded Mixed on Monday
Asia-Pacific markets traded mixed today as investors looked forward to key inflation reports scheduled for release from both the U.S. and Japan.
Hong Kong’s Hang Seng index was down by 0.45%. At the same time, China’s Shenzhen Component and Shanghai Composite indices declined by 1.17% and 1.55%, respectively. However, Japan’s Nikkei and Topix indices traded higher by 0.54% and 0.57%, respectively.
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