Traders work on the trading floor of the New York Stock Exchange on the afternoon of June 3, 2024 in New York City.
Michael M. Santiago | Michael M. SantiagoGetty Images
Dow Jones futures were little changed Tuesday night after the 30-stock index posted its best day since June 2023.
Futures linked to the Dow Jones Industrial Average Hovering on the horizon. S&P 500 Index Futures fell slightly by 0.1%, while Nasdaq 100 Futures It fell nearly 0.2%.
exist after hours trading, Five or less The company’s shares fell 10% after announcing the departure of Chief Executive Joel Anderson and naming Chief Operating Officer Kenneth Bull as the new interim president and CEO. Hunter Transportation Service Johor Bahru Shares fell more than 2% after reporting second-quarter results that were worse than expected.
At Tuesday’s meeting, Dow Chemical It rebounded more than 700 points and closed at a record high, also recording its best performance since June 2023. S&P 500 Index Up 0.64%, technology stocks gain Nasdaq Index It ended the day up just 0.2%.
small cap Also saw a recovery since last week Consumer Price Index Report for June, some investors are now moving away from large-cap tech stocks and popular artificial intelligence leaders into small-cap and cyclical stocks. Tuesday, Russell 2000 It rose 3.5%, rising for the fifth consecutive day. Small-cap indexes are up more than 10% this month.
“The Dow Jones has lagged the S&P 500 for much of the past two years, but this summer it has new wind in its sails, with hopes that the market rebound will expand beyond a handful of technology companies to the broader economy, ” said Chris Zaccarelli, chief investment officer of the Independent Advisor Alliance.
The market rally is broadening as traders become more optimistic about rate cuts, which should benefit small-cap stocks and companies with higher financing costs. Federal funds futures trading means 100% possibility According to the CME FedWatch tool, the Fed will cut interest rates in September.
Looking ahead to Wednesday, United Airlines, Explore financial services, Johnson & Johnson and U.S. Bank Several companies are about to release quarterly earnings results.
On the economic front, the Federal Reserve’s Beige Book will also be released, as will June housing starts and building permit data.
