Last Updated 4:05PM EST
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Stock indices finished today’s trading session in the red, as the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) fell 1.36%, 0.45%, and 0.04%, respectively.
The consumer discretionary sector (XLY) was the session’s laggard, as it fell 1.28%. Conversely, the real estate sector (XLRE) was the session’s leader, with a gain of 2.23%.
Furthermore, the U.S. 10-Year Treasury yield decreased to 3.73%, while the Two-Year Treasury yield also fell, as it hovers around 4.72%. This brings the spread between them to -99 basis points.
Compared to Friday, the market’s conviction about seeing only one more rate hike has increased. Indeed, the market’s expectations for a rate in the range of 5.25% to 5.5% increased to 52.1% compared to Friday’s expectations of 46.7%. However, the probabilities of all other ranges fell.
Last updated: 3:00PM EST
Stocks are mixed heading into the close, with the Nasdaq 100 (NDX) and S&P 500 (SPX) trading lower while the Dow Jones Industrial Average (DJIA) is in the green. Stocks appear to be pulling back following their impressive year-to-date rally, with technology stocks leading the way lower. In addition, markets could be nervous about the situation in Europe after the temporary rebellion by the Wagner Group.
Last updated: 11:20AM EST
Stocks are in the red so far in today’s trading session, along with WTI crude oil, which is hovering below $70 per barrel. The commodity’s recent downtrend has caused prices at the pump to decline when compared to last week. Indeed, the national average for regular gas was last $3.573 per gallon, down from last week’s reading of $3.578.
The highest prices can be found in California, where prices are substantially higher than the national average, at $4.843 per gallon. On the other hand, Mississippi is the state with the lowest gas prices, at $2.991 per gallon.
Last updated: 9:30AM EST
Stocks ticked up marginally at open on Monday morning, with the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) increasing by 0.08%, 0.07%, and 0.08%, respectively, at 9:30 a.m., EST, June 26.
First published: 4:00AM EST
U.S. Futures are trending down on Monday morning as traders gear up for the last trading week of June and the completion of the first half of 2023. Futures on the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) are down 0.11%, 0.12%, and 0.13%, respectively, at 4:00 a.m., EST, June 26.
All three major indices finished the trading week ending June 23 on negative footing, snapping their multi-week winning streaks, while they are still in the green so far this year. Meanwhile, oil futures rose this morning following the weekend uprising in Russia by a paramilitary organization, Wagner Group, which was earlier aiding Putin in his war with Ukraine. The WTI crude futures are up by 0.55%, hovering above $69.55 per barrel as of the last check.
Looking forward, the week will see earnings from a few notable companies this week, with Carnival Cruise (NYSE:CCL) reporting today before the bell. Walgreens Boots Alliance (NASDAQ:WBA) will release its Q3FY23 results on Tuesday, June 27, followed by chip maker Micron’s (NASDAQ:MU) results on June 28. Also, Nike (NYSE:NKE) will report its Q4FY23 financials on June 29. The footwear retailer is trying to win back the support of some of the partner retailers that it had earlier severed ties with to get the excess inventory off its shelves. And on June 30, beverage maker Constellation Brands (NYSE:STZ) will post its Q1FY24 results.
On the economic front, reports on New Home Sales, Consumer Confidence, and Initial Jobless Claims will be released during the week. Most importantly, the core personal consumption expenditures (PCE) index will be released on Friday, the Fed’s preferred gauge of inflation.
Elsewhere, European indices are trading in negative territory this morning as markets digest the monetary policy decisions of central banks in Europe and around the globe.
Asia-Pacific Markets End Mostly in Red
Most Asia-Pacific indices finished the trading session in the red today, following the news of the mercenary revolt in Russia over the weekend.
Mainland Chinese investors returned from a long trading holiday but also ended the markets in the negative zone today. Hong Kong’s Hang Seng index and China’s Shanghai Composite and Shenzhen Component indices finished down by 0.51%, 1.48%, and 1.68%, respectively.
Similarly, Japan’s Nikkei and Topix indices ended down by 0.25% and 0.20%, respectively.
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