Dow Futures Trade Flat Ahead of FOMC Minutes
2022.07.06 04:00
By Oliver Gray
Investing.com – U.S. stock futures were little changed during Tuesday’s evening deals, after major benchmark indices finished in a mixed fashion as falling bond yields boosted risk sensitive tech stocks.
By 6:50pm ET (10:50pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were all trading flat.
Ahead in the session, investors will be monitoring the release of the Federal Reserve’s June meeting minutes, while Markit and ISM services PMIs as well as the JOLTS job openings survey will be closely watched for signs of an economic slowdown.
During Tuesday’s regular trading, the Dow Jones Industrial Average lost 129 points or 0.4% to 30,967.8, the S&P 500 added 6.1 points or 0.2% to 3,831.4 and the NASDAQ Composite lifted 194.4 points or 1.8% to 11,322.2.
Among stocks, technology companies outperformed, with Block Inc (NYSE:SQ) adding 4.4%, Meta Platforms Inc (NASDAQ:META) lifting 5.1%, Amazon.com Inc (NASDAQ:AMZN) up 3.6% and Alphabet Inc (NASDAQ:GOOGL) gaining 4.2%.
Energy companies retreated as Oil prices tumbled below $100. Occidental Petroleum Corporation (NYSE:OXY) lost 2.2%, Devon Energy Corporation (NYSE:DVN) fell 5.8%, Diamondback Energy Inc (NASDAQ:FANG) dipped 3.1% and ConocoPhillips (NYSE:COP) shed 7%.
On the bond markets, United States 10-Year rates were at 2.818%, falling below the 2-Year yields and signaling an economic recession.
