The Nasdaq inched up 25.18 points (0.1%) to 19,546.27, the S&P 500 edged down 1.85 points or less than a tenth of a perecnt to 5,980.87 and the Dow slipped 44.14 points (0.1%) to 42,171.66.
The major index futures are currently pointing to a modestly higher open for the markets, with the S&P 500 futures up by 0.2%. Stocks may open higher as traders closely monitor the escalating conflict between Israel and Iran. The White House is expected to decide within two weeks whether to support Israeli military actions. As the conflict enters its eighth day, both nations continue to exchange missile and drone attacks.
The Philly Fed reported its diffusion index for current general activity remained unchanged in June at -4.0, signaling continued contraction. Economists had expected a slight improvement to -1.0. Looking ahead, future indicators show weaker growth expectations, with the future activity index plunging to 18.3 from 47.2 in May.
The Conference Board will release it's report on leading economic indicators in the month of May. The leading economic index is expected to edge down by 0.1% in May after slumping by 1% in April.
Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index dipped by 0.2%, while Hong Kong's Hang Seng Index jumped by 1.3% South Korea's Kospi surged by 1.5%. The major European markets have all moved to the upside on the day while the German DAX Index is up by 1.6%, the French CAC 40 Index is up by 1.0% and the U.K.'s FTSE 100 Index is up by 0.5%.
In commodities trading, crude oil futures are edging up $0.16 to $75.30 a barrel after rising $0.30 to $75.14 a barrel on Wednesday. Meanwhile, after inching up $1.20 to $3,408.10 an ounce in the previous session, gold futures are tumbling $44.50 to $3,363.60 an ounce. On the currency front, the U.S. dollar is trading at 145.47 yen versus the 145.45 yen it fetched on Thursday. Against the euro, the dollar is valued at $1.1524 compared to yesterday's $1.1495.
Powered by Capital Market - Live News