MARKET SNAPSHOT: Dow Industrials Poised For A Fresh Record, While Tech Stocks Shape Up To Rebound

Date : 06/19/2017 @ 5:58AM
Source : Dow Jones News
Stock : FTSE 100 (UKX)
Quote : 7380.68  -6.26 (-0.08%) @ 11:35AM
FTSE 100 share price Chart

MARKET SNAPSHOT: Dow Industrials Poised For A Fresh Record, While Tech Stocks Shape Up To Rebound

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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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