Good Monday morning traders and investors of the r/stocks sub! Welcome to the new trading week and a fresh start! Here are your pre-market stock movers & news on this Monday, June 17th, 2023-
Stock futures are little changed to start the week: Live updates
Stock futures were little changed Monday ahead of a busy week for corporate earnings.
Futures tied to the Dow Jones Industrial Average lost 54 points, or 0.16%, while S&P 500 futures slipped 0.05%. Futures connected to the Nasdaq-100 traded 0.1% higher.
Stocks are coming off a winning week that saw the Dow Jones Industrial Average gain 2.3% to notch its best weekly gain since March. The S&P 500 and Nasdaq Composite added 2.4% and 3.3%, respectively. On Friday, the Dow rose 113.89 points, or 0.33%, while the S&P and Nasdaq slipped 0.1% and 0.18%, respectively.
The moves came on the heels of solid big bank earnings and softer inflation reports that lifted investor sentiment. That heightened some hopes the Federal Reserve may be able to tamp down inflation without tipping the economy into a recession.
“It’s the Goldilocks scenario, it’s inflation coming down with near record low unemployment,” Kathryn Rooney Vera, chief market strategist at StoneX, told CNBC’s “Last Call” on Friday. “Yes, people have some pain … with prices, but they have jobs. Evidence is increasingly favorable for the soft landing viewpoint, and immaculate disinflation is what has the market going crazy.”
Second-quarter earnings season gains steam this week with results from big financial institutions such as Bank of America, Morgan Stanley and Goldman Sachs. Results are also due from United Airlines, Las Vegas Sands and technology giants Tesla and Netflix.
Wall Street are bracing for what be a gloomy season with lower profits. Analysts forecast a more than 7% decline in S&P 500 earnings from a year ago, according to FactSet.
This week also ushers in the Fed’s “blackout period” ahead of its July policy meeting. Traders anticipate a near 97% chance the central bank increases interest rates later this month, after pausing hikes in June, according to CME Group’s FedWatch tool.
STOCK FUTURES CURRENTLY:
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LAST WEEK'S MARKET MAP:
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TODAY'S MARKET MAP:
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LAST WEEK'S S&P SECTORS:
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TODAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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EARNINGS RELEASES BEFORE THE OPEN TODAY:
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THIS AFTERNOON'S AFTER-HOURS EARNINGS CALENDAR:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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FRIDAY'S ANALYST UPGRADES/DOWNGRADES:
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FRIDAY'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
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THIS MORNING'S STOCK NEWS MOVERS:
(source: [cnbc.com]())
(TO BE POSTED LATER THIS MORNING.) — (TO BE POSTED LATER THIS MORNING.).
STOCK SYMBOL: SPY
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DISCUSS!
What's on everyone's radar for today's trading day ahead here at r/stocks?
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