VSCO - Wall Street Looks To Extend Gains As Traders Eye More Jobs Data: Why This Analyst Sees 4% S&P 500 Rise In June | Benzinga
U.S. stocks are gearing up for a cautiously optimistic start on Wednesday after a late-session recovery led to a positive close in the previous session. Labor market data and service sector activity reading could set the tempo for the day’s trading direction. A soft private payroll number could prove to be a double-edged sword, depending on what traders choose to focus on. Bond yields remain subdued and but could see some volatility post the data. Positive reactions to earnings, specifically from the tech sector, could provide a lift to the space.
Futures Performance (+/-)
Nasdaq 100 +0.39%
S&P 500 +0.20%
Dow +0.13%
R2K +0.05%
In premarket trading on Wednesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) slumped 0.20% to $529.44, and the Invesco QQQ ETF (NASDAQ:QQQ) traded up 0.42% at $456.21, according to Benzinga Pro data.
Cues From Previous Session:
U.S. stocks moved about in a lackluster manner for the bulk of Tuesday’s session but managed to close the day higher. After the Labor Department’s JOLTS survey, showing job openings slumping to their lowest level since 2021 jolted the market early on, the indices stayed mostly below the unchanged. Stocks experienced volatility in the late session but came back up to end firmer.
Small-cap stocks ended with notable losses amid the meme stock volatility.
Index Performance ...