After the regular trading hours, Dow Jones futures, along with S&P 500 futures and Nasdaq futures, experienced a slight decline. The upcoming Wednesday morning session is expected to see the release of a slew of economic data. It is going to be a half-day session, so the trading activity may be limited.
The stock market had a positive session on Tuesday, with the S&P 500 and Nasdaq achieving record closes. Tesla saw a surge on Wednesday following stronger-than-expected deliveries, contributing to its ongoing powerful run. Bank stocks like Goldman Sachs, JPMorgan Chase, Wells Fargo, Bank of America, Citigroup, and Morgan Stanley also made significant gains, with many trading around buy points or early entries. The Treasury yield curve has started to flatten out, indicating optimism about Donald Trump’s potential return to the White House.
Furthermore, Diamondback Energy and oil machinery stocks like Weatherford International and TechnipFMC have also shown bullish moves. Weatherford stock is on the IBD Leaderboard watchlist, while Citigroup stock is on the IBD 50 list. Diamondback Energy was recently featured as the IBD Stock of the Day.
In terms of futures trading, Dow Jones futures dropped 0.1%, S&P 500 futures fell 0.15%, and Nasdaq 100 futures declined 0.1%. Key economic reports such as the ADP Employment Report, weekly jobless claims, and ISM services index are scheduled for release on Wednesday morning, following a half-day trading session.
The upcoming July 4 holiday has had an impact on trading, with markets closing early on July 3. It is important to note that overnight movements in futures do not always translate into the actual trading activity during regular market hours.
Recent political developments have seen Democratic members of Congress expressing doubts about President Joe Biden’s chances in the next election. This has caused some fluctuations in the odds of Biden being the Democratic nominee.
Overall, the stock market rally has been relatively strong, with Tesla leading the way. Bank stocks have also shown resilience, indicating investor optimism about the future. It is important to stay updated on market trends and be vigilant in managing your portfolio to ensure financial independence.
