Wall Street Prepares for Strong Second Half as Stock Futures Surge: Live Market Updates
Money | June 30, 2024, 9:23 p.m.
Stock futures rose overnight as investors prepared for the second half of 2024. The Dow Jones Industrial Average and S&P 500 futures made modest gains of 0.1% and 0.2%, respectively, while Nasdaq-100 futures also increased by 0.2%. Wall Street experienced losses in the previous session following a successful first half of the year, with notable gains in AI and Nvidia stocks. Despite a pullback in the second quarter, the S&P 500 saw a 14.5% increase and the Nasdaq Composite surged by 18.1%. Tech-driven momentum is expected to continue through the summer, with some concerns over high valuations. Chief strategist King Lip believes that tech companies are well-positioned for growth despite potential resistance in the fall. The market will be closed on Thursday for the Fourth of July holiday, with the June jobs report expected to provide insight into the labor market's status.