Today’s Stock Market Outlook: Dow, S&P 500, Nasdaq Expected to Open Higher; Nvidia, DJT, Micron, and Other Stocks in the Spotlight; Treasury Yields Increase; Bank of England Maintains Interest Rates

U.S. stock futures saw a slight increase on Thursday, indicating that major indexes could continue to climb after reaching new highs earlier in the week. The Dow Jones Industrial Average futures went up by 39 points, or 0.1%, while S&P 500 contracts rose by 0.4% and Nasdaq 100 futures increased by 0.6%. Investor sentiment is positive as markets reopen following the June 16 holiday. Weak retail sales figures on Wednesday hinted at a slowdown in economic growth as households began cutting back on spending, potentially paving the way for the Federal Reserve to consider interest rate cuts. Further information on employment will be released later in the day. Chief economist James Knightley of ING International believes that if there are more signs of decreased consumption, along with a rise in unemployment and slower inflation, a rate cut in September could be a possibility. If the Fed does decide to cut rates, it is unlikely to stop at just one cut. Early Thursday, bond yields slightly increased, with the yield on the 10-year Treasury bond at 4.258% compared to around 4.225% earlier in the week. The two-year yield was at 4.748%, down from 4.725%.

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https://www.barrons.com/livecoverage/stock-market-today-062024