Market Outlook: Stock Futures Level as June Draws to a Close Near Record Highs - Live Updates

Money | June 23, 2024, 5:03 p.m.

Stock futures remained steady on Sunday night as the market prepared to enter the last week of June and the first half of 2024 near all-time highs. The S&P 500 hit a new intraday record on Thursday and closed the week with its eighth positive week out of nine. However, concerns about market exhaustion have surfaced, highlighted by Nvidia's recent downturn. The chipmaker, which briefly surpassed Microsoft as the most valuable U.S. company, experienced two consecutive weeks of declines. Analysts predict potential challenges ahead due to the rapid rise in Nvidia's stock price. Despite these developments, the overall market has benefited from the growing excitement around artificial intelligence, propelling the S&P 500 to a 15% increase so far this year. Investors will be closely watching key economic data releases and company earnings reports, such as those from FedEx, Micron, Walgreens Boots Alliance, and Nike.