Traders work on the trading floor of the New York Stock Exchange (NYSE) on May 30, 2023 in New York City.
Brendan McDermid | Reuters
Stock futures edged higher Monday evening as investors focused on the next batch of economic data and braced for the end of June and the second quarter.
Futures tied to the Dow Jones Industrial Average rose 29 points, or 0.1%. S&P 500 and Nasdaq 100 futures were also up about 0.1% each
The moves came after a day of losses on Wall Street.this Nasdaq Composite Index The decline was led by investors taking profits in some technology stocks, which fell nearly 1.2 percent. tesla down 6%, while Nvidia, letter and meta platform All closed down more than 3%.
this S&P 500 Index closed down about 0.5 percent, while dow chemical It closed slightly lower than flat. It was the sixth straight session of losses for the 30 Dow stocks, the longest losing streak since September 2022.
Despite Monday’s losses, the S&P 500 and Nasdaq are still on track to end June up more than 3%, while the Dow is on track for a monthly gain of nearly 2.5%.
A close on Friday would mark the end of the second quarter and first half of 2023. The Nasdaq is up more than 9% for the quarter, while the S&P 500 and Dow are on track to end the quarter up more than 5% and 1%. respectively.
“It’s not unusual for a trend that’s been going on this quarter to start to reverse a bit toward the end,” said Scott Ladner, chief information officer at Horizon Investments. The fact that the Nasdaq is underperforming today probably reflects more of the effect of portfolio rebalancing at the end of the quarter than anything else.”
really, Russell 2000 It closed Monday with a slight gain of 0.09%.
Investors will focus on a slew of data due on Tuesday morning, including home sales, durable goods and consumer confidence. walgreens Quarterly earnings are scheduled to be released before the bell.
They will also be watching for any developments inside Russia following the brief insurgency over the weekend.