'Are Nasdaq and S&P 500 about to Hit a Roadblock? Insights from Futures Trading on Invesco QQQ Trust and SPDR S&P 500'

Money | July 8, 2024, 6:23 p.m.

U.S. stock futures point to a steady start amidst record market highs, driven by a tech rally. Traders approach the week cautiously, anticipating market-moving events such as Fed Chair Powell's testimony and consumer credit report. M&A news offsets potential downward pressure. Global markets show mixed cues, with Asia declining and Europe starting strong. Commodities trend downward. Last week saw Wall Street's strong performance, fueled by Powell's comments and hope for rate cuts. Analysts predict further upside this week, historically bullish for stocks. Economic data to watch includes Powell's testimony, inflation figures, and consumer sentiment. Paramount Global, Tesla, and Boeing are stocks in focus. Crude oil and gold futures decline, while Treasury yields rise. Bitcoin stabilizes. Asian markets falter, Europe rises post-French election.