Traders work on the floor of the New York Stock Exchange.
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U.S. stock futures were little changed early Wednesday after stocks rose on a tech-heavy rally. S&P500 and Nasdaq Composite To a new record.
S&P500 futures Although it was slightly expensive, Futures linked to the Dow Jones Industrial Average It added 40 points, or less than 0.1%. Nasdaq 100 futures It was close to flatline.
Stocks with the biggest moves in Tuesday’s extended trading included: Z scalerfell 19% after the company’s sales outlook for the quarter was lower than expected by analysts surveyed by LSEG. on the other hand, Insulette Shares fell 8% after the diabetes management company announced a voluntary medical device modification for certain lots of some of its pods.
In regular trading on the day, gains in the technology sector pushed both the market-wide index and the tech-heavy Nasdaq to new intraday and closing highs. The S&P 500 rose 0.61% and the Nasdaq rose 1.19%. On the other hand, excellent companies Dow The difference was 118.02 points (0.23%).
Tuesday’s rise was micron technologywhich soared 19% and its market capitalization exceeded $1 trillion for the first time. Investors were also encouraged by President Donald Trump’s message that negotiations with Iran to end the war are “progressing well.” The United States carried out a “self-defense” strike in southern Iran early Tuesday, but Central Command spokesman Tim Hawkins said the United States exercised “restraint during the ongoing ceasefire” between the two countries.
Hopes for a easing of tensions and a strong earnings season have pushed stock prices to record highs multiple times this year. But Drew Pettit, U.S. equity strategist at Citi, doesn’t see much room for stocks to fall from here.
“(() has a higher yield, such as 4.50%)US 10 year government bond), inflation expectations are higher with a curve that is actually flatter throughout the year. “Right now, all of this doesn’t lead to a higher sustainability multiple,” he said on CNBC’s “Power Lunch” Tuesday afternoon.
Pettit’s year-end target for the S&P 500 is 7,700, implying a modest 2% rise in the index.
bank of montreal, Bath & Body Works, capri, dicks sporting goods, manchester united and Abercrombie & Fitch It plans to report earnings before the opening bell on Wednesday.
