U.S. stock futures are little changed as the market closes out a winning first half


In this article

    A trader works on the New York Stock Exchange on March 3, 2020.
    Michael Nagle | Xinhua via Getty

    U.S. stock futures were little changed on Tuesday night as the market gets set to close out a winning first half of 2021 and second quarter.

    Futures on the Dow Jones Industrial Average gained 14 points, or 0.04%. Futures on the S&P 500 rose 0.08%. Futures on the Nasdaq-100 added 0.18%.

    Wednesday is the last day of the second quarter and final day of the first half of 2021. So far on the year, the S&P 500 is up 14%, while the Nasdaq Composite and the Dow are up 12% apiece. For the quarter, the S&P 500 is up 8%. The S&P 500 and Nasdaq all posted fresh record closes on Tuesday.

    Investors have shrugged off high inflation readings and have kept buying stocks on the hopes an economic comeback from the pandemic would continue. The three biggest winners in the Dow this year so far are Goldman Sachs, American Express and Walgreens Boots Alliance, all up more than 30%. Chevron, Microsoft and JPMorgan Chase are up more than 20% each.

    Good first halves usually bode well for the rest of the year. Whenever there has been a double-digit gain in the first half, the Dow and S&P 500 have never ended that year with an annual decline, according to Refinitiv data going back to 1950.

    During the regular session Tuesday, stocks were little changed in light trading although the S&P 500 did notch its 4th straight positive session and an all-time high. The Dow rose 9 points, or less than 1%. The S&P 500 ended the day 0.03% higher and the Nasdaq Composite ended the day up 0.2%

    Homebuilder stocks rose Tuesday after S&P CoreLogic Case-Shiller published its National Home Price Index, which showed home prices rose more than 14% in April from the previous year and several major cities in the U.S. had their highest annual price gains. Lennar stock rose almost 1% and shares of PulteGroup rose 1.9%.

    The Conference Board’s consumer confidence index also came in at its highest level since March 2020.

    Weekly mortgage applications and pending home sales data are due to be published Wednesday. Payroll firm ADP is scheduled to report on the number of private payrolls added in June.

    Stocks likely won’t see big movement until Friday’s jobs report gives a better idea of the state of the economy. Economists expect 683,000 jobs were added in June, according to a Dow Jones survey.

    —With reporting from Robert Hum.

    Articles You May Like

    Here’s how to avoid unexpected fees with payment apps
    ‘If your parents are homeowners, you’re more likely to be a homeowner,’ housing expert says. Here’s why
    Labor coalition accuses Starbucks of ‘flawed’ union strategy, risking shareholder value
    Boeing replaces head of troubled 737 Max program
    Mark Cuban got the idea for a $5.7 billion business in a California Pizza Kitchen