Stock index futures are quiet as bond yields rise, while FedEx stock jumps on positive earnings.

From Nasdaq: 2024-06-26 07:39:10

Futures for S&P 500 and Nasdaq 100 are up, while FedEx shares surge over 13% after strong quarterly results. Wall Street ended mixed yesterday with Carnival up over 8% and Nvidia climbing more than 6%. On the downside, Pool Corp. slumped over 8%. U.S. economic data showed mixed results for June. Fed Governor Michelle Bowman sees upside risks to inflation and suggests no rate cuts this year.

Fed Governor Lisa Cook hints at possible rate cuts, depending on economic data. Rate futures indicate a 10.3% chance of a July rate cut and a 57.9% chance in September. Eyes on U.S. core PCE price index and earnings reports from Micron and General Mills. New home sales, building permits, and crude oil inventories data to be released today.

European markets bounce back, led by technology and mining stocks. ECB official hints at possible monetary policy easing. DHL Group gains about 2% following positive FedEx forecast. German consumer sentiment dips while French consumer confidence in line with expectations. Asian markets close in the green, with gains in Chinese semiconductor stocks and Japanese chip-related companies.

Pre-market movers include chip stocks like Nvidia and Micron up over 2%, U.S. Steel up nearly 2%, and Robinhood up over 3% after a VW deal. Accenture falls over 1% after a downgrade. Today’s earnings spotlight on Micron, Paychex, General Mills, Levi Strauss, and more. Rivian Automotive soars about 34% in pre-market trading following a deal with Volkswagen. Fed stress test results expected today.



Read more at Nasdaq: Stock Index Futures Muted as Bond Yields Climb, FedEx Soars on Upbeat Results