Stock Index Futures Tick Higher Amid Robust Performance | June 16, 2023

As we wrap up the trading week, the stock index futures are pointing towards a modest increase. The S&P futures (SPX) and Dow futures (INDU) both have risen by 0.2%, with the Nasdaq 100 futures (NDX:IND) ticking upwards by 0.1%. The past week's trading activities paint a positive picture with the S&P 500 (SP500) up by 3%, the Nasdaq Composite (COMP.IND) gaining 4%, and the Dow Jones (DJI) increasing 1.6%. This progression represents a robust performance, where risk assets have displayed resilience, continuing their advance, notably the S&P 500 marking its sixth straight session of growth for the first time since November 2021.

On the other hand, Treasury yields remain relatively stable with the 10-year yield (US10Y) flat at 3.72%, while the 2-year yield (US2Y) rose slightly by 3 basis points to 4.68%. In the upcoming economic data releases, the market anticipates the preliminary June consumer sentiment from the University of Michigan. A minor uptick to 60 is expected, shedding light on the consumer confidence landscape. Interestingly, this data often reveals a perceived economic divergence between Republicans and Democrats, a testament more to partisan bias than actual regional economic differences. Despite the reported sentiments, it's crucial to bear in mind that people's expressed attitudes often differ from their real-world economic behaviors. #SPX #NDX #DJI #MarketUpdate