On June 24, 2024, U.S. stock futures remained flat after the S&P 500 surpassed 5,500 for the first time. Paramount Global shares surged 7% in extended trading as Skydance Media reached a deal to buy National Amusements. The market index, Nasdaq Composite, and Dow Jones all saw gains during the main session. However, concerns are rising on Wall Street about the sustainability of the narrow rally leadership and when the Federal Reserve will cut rates. Citi Research's Scott Chronert warned of a possible pullback due to high growth expectations and economic strains. Economic data, such as ADP's private payrolls and weekly jobless claims, are set to be released ahead of the Fourth of July holiday. Fed meeting minutes will also be released. With an early market closure on Wednesday and a full closure on Independence Day, investors are bracing for potential changes in the market.