Market Snapshot: U.S. stock futures point to further Wall Street gains on view bad news is good news

by | Jun 27, 2022 | Stock Market

U.S. stock futures pointed to an extension of last week’s gains, buoyed by data showing a slowing economy that in turn could limit the magnitude of Federal Reserve rate hikes.What’s happening
Futures on the Dow Jones Industrial Average
rose 120 points, or 0.4%, to 31607.

Futures on the S&P 500
gained 20.75 points, or 0.5%, to 3937.

Futures on the Nasdaq 100
increased 82.75 points, or 0.7%, to 12223.

Last week, the S&P 500
jumped 6% to snap a three-week losing run. The Dow Jones Industrial Average
rose 5%, and the tech-heavy Nasdaq Composite
gained 7%.

What’s driving markets Strategists at Credit Suisse say bond yields may have seen their peak, particularly for Treasury-inflation protected securities, which in turn means the dollar
is close to its summit. They say their lead indicators are consistent with 0% GDP growth, as evidenced by the collapse in housing affordability, the weakness of corporate confidence and the weakness in the employment gauge of the Institute for Supply Management manufacturing index. JPMorgan quantitative strategist Marko Kolanovic published a note saying the market could rise 7% this week, due to the need for portfolios t …

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