MARKET SNAPSHOT: Dow Industrials Poised For A Fresh Record, While Tech Stocks Shape Up To Rebound
June 19 2017 - 04:58AM
Dow Jones News
By Barbara Kollmeyer, MarketWatch
U.S. stock futures trekked higher on Monday, with the Dow
industrials likely to open at a fresh record and hard-hit
technology stocks eyeing a rebound.
The indicated U.S. gains track strength across global equities,
as European and Asian stocks move higher.
Dow Jones Industrial Average futures rose 76 points, or 0.4%, to
21,409, while S&P 500 futures added 7.75 points, or 0.3%, to
2,438.75. Nasdaq 100 futures shot up 39.5 points, or 0.7%, to
5,723.50.
While futures are not always an exact indication of market
moves, their gain bolsters expectations that the Dow industrials
will open above the all-time closing high of 21,384.28 hit Friday,
the 21st record for 2017.
The S&P 500 index finished less than a point higher Friday
and flat for the week.
On Friday, the Nasdaq Composite fell 0.2%
(http://www.marketwatch.com/story/us-stocks-set-to-fight-for-positive-ground-housing-data-ahead-2017-06-16)
, extending a a rough patch for the tech sector. A bounce for tech
stocks at the open Monday would follow a second-straight weekly
loss. Leading the way higher on Monday, shares of Apple Inc.(AAPL)
and Amazon.com Inc.(AMZN) were up around 1% in thin premarket
trading.
Investors are likely to keep tech stocks in focus this week
(http://www.marketwatch.com/story/tech-selloff-remains-a-concern-after-fed-hike-tepid-economic-growth-2017-06-17),
amid concerns the sector could start to drag down the broader
market
(http://www.marketwatch.com/story/tech-selloff-remains-a-concern-after-fed-hike-tepid-economic-growth-2017-06-17),
given the Federal Reserve has indicated it will tighten policy and
economic data has failed to inspire.
Economic docket: New York Fed President William Dudley is
scheduled to speak at a business roundtable in Plattsburgh, New
York, at 8 a.m. Eastern Time. Later in the day, Chicago Fed
President Charles Evans is slated to give a speech to the Money
Marketeers of New York University at 7 p.m. Eastern.
There are no top-tier economic data on the calendar for
Monday.
Stocks to watch: Shares of Boeing Co. (BA) could be active after
the aircraft maker said it has signed a memorandum of understanding
(http://www.marketwatch.com/story/boeing-gecas-announce-order-for-20-737-max-10s-2017-06-19)
with BOC Aviation Ltd. (2588.HK) for 10 737 MAX 10 airplanes at the
2017 Paris Air Show on Monday.
Alphabet Inc.'s(GOOGL) Google Inc. announced a four-step plan to
fight terror, among them using technology to spot extremist and
terror-related videos, in a blog post Sunday
(https://blog.google/topics/google-europe/four-steps-were-taking-today-fight-online-terror/).
Europe inspires: While Asian stocks kicked the week off higher,
even more robust gains were seen for European stocks on Monday. The
French CAC 40 index rose 1% after French President Emmanuel
Macron's pro-Europe Union party and its centrist ally saw a
decisive victory in parliamentary elections
(http://www.marketwatch.com/story/macrons-party-on-track-for-dominant-win-in-french-parliament-2017-06-18).
The Stoxx Europe 600 was up about 0.7%.
The FTSE 100 index added 0.6%. U.K. officials will be meeting
with their Brussels counterparts on Monday to start talks over
Britain leaving the European Union. Meanwhile, in what police are
calling a terrorist attack, a van rammed into a crowd near a mosque
(http://www.marketwatch.com/story/one-dead-several-injured-after-car-rams-crowd-in-finsbury-park-london-2017-06-19)
in North London, leaving one person dead and several injured.
Other markets: Oil prices were flat
(http://www.marketwatch.com/story/oil-prices-kick-off-the-week-with-a-move-down-2017-06-19),
while the dollar held steady. The pound firmed up ahead of those
Brexit talks
(http://www.marketwatch.com/story/pound-steady-with-brexit-talks-due-to-kick-off-2017-06-19).
Gold prices slipped $4 to $1,252.50 an ounce.
(END) Dow Jones Newswires
June 19, 2017 05:43 ET (09:43 GMT)
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