Stocks to Regain Ground as U.S. Market Futures Pointing Higher
U.S. stock futures are pointing higher in pre-market trading for Wednesday, June 15. The Dow Futures are up 57.00 points to 17629.0. The S&P 500 Futures are higher at 2071.5 for a gain of 5.50 points. The Nasdaq Futures are higher at 4431.5 for a gain of 13.50 points. The Russell Futures are showing a gain of 3.50 points at 1147.3.
In overnight trading in the Eastern Hemisphere stocks trended higher in Asia. China’s Shanghai Composite was higher at 2887.21 for a gain of 45.02 points or 1.58 percent. Japan’s Nikkei 225 was higher at 15919.58 for a gain of 60.58 points or 0.38 percent. Hong Kong’s Hang Seng Index was higher at 20467.52 for a gain of 79.99 points or 0.39 percent. In India the S&P BSE Sensex was higher at 26726.34 for a gain of 330.63 points or 1.25 percent and the NSE Nifty was higher at 8,206.60 for a gain of 97.75 points or 1.21 percent. In Europe, stocks were also higher. The FTSE 100 was higher at 5984.49 for a gain of 60.96 points or 1.03 percent. Germany’s DAX was higher at 9634.31 for a gain of 115.11 or 1.21 percent. France’s CAC 40 was higher at 4194.21 for a gain of 63.88 points or 1.55 percent. The Stoxx Europe 600 was higher at 324.91 for a gain of 4.38 points or 1.37 percent.
Wednesday’s Factors and Events
On Wednesday afternoon the Federal Open Market Committee’s two-day policy meeting will end with a press conference and the release of new projections. The Fed is not expected to raise interest rates and the focus of the afternoon will most likely be on the outlook and near-term projections.
Other reports for Wednesday will include the Mortgage Bankers Association’s Mortgage Applications, the Producer Price Index, Industrial Production and the EIA Petroleum Status Report.
Stocks trading actively in pre-market trading include Bank of America, JPMorgan Chase, Wells Fargo, Microsoft, eBay and Whole Foods.
Earnings reports on Wednesday include Culp, Inc., CLARCOR Inc., Ctrip.com International, Ltd., Jabil Circuit Inc., Korn/Ferry International, KongZhong Corporation, Qunar Cayman Islands Limited and Rand Logistics, Inc.
On Tuesday, the leading stock indexes in the U.S. were lower. The Dow Jones Industrial Average closed at 17674.82 for a loss of -57.66 points or -0.33 percent. The S&P 500 was also lower, closing at 2075.32 for a loss of -3.74 points or -0.18 percent. The Nasdaq Composite closed lower at 4843.55 for a loss of -4.89 points or -0.10 percent.
Source: DJIA, S&P 500 and Nasdaq Composite. Google Finance.
Other notable index closes in the U.S. on Tuesday included the small-cap Russell 2000, closing lower at 1147.85 for a loss of -2.85 points or -0.25 percent; the S&P 600 closing at 703.90 for a loss of -0.40 points or -0.06 percent; the S&P 400 Mid-Cap Index closing at 1477.43 for a loss of -4.89 points or -0.33 percent; the S&P 100 closing at 918.46 for a loss of -0.99 points or -0.11 percent; the Russell 3000 closing at 1223.55 for a loss of -2.56 points or -0.21 percent; the Nasdaq 100 closing at 4424.91 for a gain of 2.15 points or 0.05 percent; and the Dow Jones U.S. Select Dividend Index closing at 595.77 for a gain of 0.41 points or 0.07 percent.