WGO - Wall Street On Track To Resume Meteoric Climb Nvidia Builds On Gains: Analyst Says 'Now Until Later In The Month Is…Seasonally Worst Times' | Benzinga

U.S. stocks will likely carry over from where they left off as the market reopens after the Juneteenth holiday on Thursday. The major index futures were all uniformly higher, underpinned by the continued buoyancy in the tech space. The sector’s accelerated runup, though, has caused concerns among certain quarters. Analysts have begun calling for moderation in sentiment toward the space once the Federal Reserve confirms rate cuts for the year.

Traders may also keep an eye on some key Main Street catalysts such as the jobless claims and housing starts data and the results of a regional manufacturing survey.

Wall Street went about a listless ride on Tuesday, as traders digested a slew of catalysts, including weak retail sales, stronger-than-expected industrial production growth, Fed speeches and the Congressional Budgetary Office’s 27% upward adjustment to budget deficit estimate for the fiscal year.

The major averages moved roughly sideways in a broad range before closing higher for the day. The Nasdaq Composite hit a record high on a closing basis but not on an intraday basis, and the S&P 500 Index clocked both intraday and closing highs. The 30-stock Dow Jones Industrial Average, which is still trading off its record highs, rose for a second straight session.

The most important development was Nvidia Corp. (NASDAQ:NVDA) rising in ranks to become the most-valued global corporation.

Insights From Analysts:

Comerica Chief Investment Officer John Lynch said in a ...

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