HomeFinancial MarketsU.S. Futures Rise, Extending S&P 500 Record

U.S. Futures Rise, Extending S&P 500 Record

U.S. futures rose on Monday, thereby extending the record high achieved by the S&P 500 on Friday. The benchmark index surpassed its previous closing high of 4,796.56, thereby surging 35% since hitting a low point in October 2022.

S&P 500 futures rose 0.3% on Monday morning, while those on the Nasdaq 100 advanced by 0.6%. Contracts listed on the Dow Jones Industrial Average posted a 0.2% gain. Across the pond, the Stoxx Europe 600 rose by 0.8% while the MSCI Asia Pacific Index edged 0.1% higher.

“We are heading into an environment where the economic slowdown seems to be more of a soft landing, at the same time we are talking about rate cuts,” Jun Bei Liu, a fund manager at Tribeca Investment Partners observed, suggesting that developments for equities are positive. Investors remain confident that the Federal Reserve will soon introduce interest rate cuts, even if later than initially hoped.

Adobe’s Stock Surges More Than 14% Percent On the Back of Record Revenue

Software company Adobe shared its report for the second quarter, which showed record revenue and earnings results that beat the expectations of analysts. The...

Cruise Stocks Drop Amid Worries About Their Pricing Power

Cruise companies Carnival, Norwegian Cruise, and Royal Caribbean all saw their stock take a significant dip on Friday after analysts expressed concerns about their...

U.S. Home Sales Approach Lowest Level in a Decade Amid All-Time High Prices

Prospective homebuyers in the United States continue to remain on the sidelines amid all-time high prices. Real estate brokerage Redfin recently released a report...