Stock Futures Slip as S&P 500 (SPX) Snaps Three-Day Rally
U.S. stock futures edged down on Wednesday evening after the S&P 500 (SPX) snapped a three-day winning streak. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 were down 0.25%, 0.21%, and 0.2%, respectively, at 8:35 p.m. EST, June 11.
Confident Investing Starts Here:
Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Wednesday marked a losing session on Wall Street, with the S&P 500 closing down by 0.27%. The Nasdaq Composite closed lower by 0.5%, while the Dow Jones remained flat.
Those moves came after the May consumer price index (CPI) rose less than expected. The report showed inflation rising by 0.1% month-over-month (MoM) and 2.4% year-over-year. That was less than the Dow Jones forecast of 0.2%. Meanwhile, core CPI, which excludes the often-volatile food and energy prices, rose 0.1% MoM.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
37 minutes ago
- Business Insider
Dow Jones Index Today: DJIA Drops on Israel Strikes as Consumer Sentiment Jumps
The Dow Jones (DJIA) is down by over 1% as the market processes the impact of Israel's attack on Iran's nuclear and military facilities. Meanwhile, oil prices are surging as the conflict threatens to disrupt energy supply chains in the Middle East. Confident Investing Starts Here: On Friday, President Trump said that Israel's strikes will actually be a positive for the market. 'I think ultimately, it would be great for the market because Iran will not have a nuclear weapon. It will be great for the market—should be the greatest thing ever for the market. Iran won't have a nuclear weapon that was a great threat to humanity,' said Trump in an interview with the Wall Street Journal. Trump also added that he was aware of the attack before it occurred and that he plans to speak with Israeli Prime Minister Benjamin Netanyahu today. Meanwhile, consumer sentiment has finally reversed a six-month slump based on the University of Michigan's Index of Consumer Sentiment. The index's preliminary June reading came in at 60.5, above the estimate for 53.5 and up from 52.2 in May. Furthermore, UM's year-ahead inflation expectation tallied in at 5.1% compared to 6.6% last month. Long-run inflation expectations are now at 4.1%, down from 4.2%. Which Stocks are Moving the Dow Jones? Let's shift our attention to TipRanks' Dow Jones Heatmap, which illustrates the stocks that have contributed to the index's price action. In a weak finish to the week, every single technology stock within the index is falling, led by Salesforce (CRM) and Nvidia (NVDA). In addition, payment providers Visa (V) and American Express (AXP) are taking a hit after the Wall Street Journal reported that Amazon (AMZN) and Walmart (WMT) are exploring the idea of issuing proprietary stablecoins. Elsewhere, communications services, energy, and healthcare, excluding embattled UnitedHealth Group (UNH), are relatively muted as we head into the weekend. DIA Stock Moves Higher with the Dow Jones The SPDR Dow Jones Industrial Average ETF (DIA) is an exchange-traded fund designed to track the movement of the Dow Jones. In addition, DJIA can't be bought or sold, although DIA can be. Wall Street believes that DIA stock has room to rise. During the past three months, analysts have issued an average DIA price target of $466.70 for the stocks within the index, implying upside of 9.82% from current prices. The 31 stocks in DIA carry 30 buy ratings, 1 hold rating, and zero sell ratings.
Business Insider
37 minutes ago
- Business Insider
Mexco Energy trading resumes
13:20 EDT Mexco Energy (MXC) trading resumes Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Business Insider
37 minutes ago
- Business Insider
TD Cowen Sticks to Its Hold Rating for Nike (NKE)
In a report released today, John Kernan from TD Cowen maintained a Hold rating on Nike (NKE – Research Report), with a price target of $57.00. The company's shares opened today at $61.75. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Kernan is a 5-star analyst with an average return of 9.6% and a 53.13% success rate. Kernan covers the Consumer Cyclical sector, focusing on stocks such as Nike, Ralph Lauren, and Deckers Outdoor. Nike has an analyst consensus of Moderate Buy, with a price target consensus of $74.87. NKE market cap is currently $93.15B and has a P/E ratio of 21.00.
