What is the S&P 500? A complete guide to this major stock market index
Understanding the S&P 500: What is it and why is it important?
US stock futures are expected to test record highs in new trade transactions.
President Donald Trump said the deal was signed with China, while Commerce Secretary Howard Lutnick said the US was approaching an agreement with 10 other trading partners. The final Chinese deal includes China’s commitment to deliver rare earths used in everything from wind turbines to jets, Lutnick told Bloomberg.
At ET 6:03 AM, futures linked to the Blue Chip Dow added 0.24% (106 points) to 43,824, while S&P 500 futures went 0.24% (15 points) to 6,210.00, while Nasdaq futures increased 0.32%, or 71.75 points to 22,741. The S&P 500 and Nasdaq have been within impressive distance of record highs over the past few days, but have not gathered enough energy to hurdle them.
The benchmark 10-year Treasury yield was up to 4.273%.
Before the opening bell, investors can get a glimpse into the Fed’s inflation rate and consumer spending through personal consumption expenditures, or PCE, data.
Inflation is expected to rise by 2.3% per year in May, with core rates excluding food and energy rising by 2.6%. Most economists hope these numbers will continue to rise this summer.
Corporate News
- Nike’s quarterly results have surpassed analyst expectations, but the company is expected to see tariffs increase costs this fiscal year by $1 billion. He said he would give consumers some costs and cut costs to address the additional costs. Shares in Mega Sportswear Company rose 9.34% in pre-market trading.
- Cormedix plans to sell $85 million in shares in the public offering. The shares fell to 10.76%.
Cryptocurrency
Bakkt Holdings was filed with the Securities and Exchange Commission, which could sell up to $1 billion in securities to buy Bitcoin and other digital assets.
Bitcoin last increased by 0.15% to $107,115.80.
Medora Lee is a money, market and personal finance reporter for USA Today. mjlee@usatoday.com and Subscribe to our free daily money newsletter Personal finance tips and business news every Monday to Friday.
