Traders work on the floor of the New York Stock Exchange.
NYSE
Stock futures were little changed on Sunday afternoon ahead of a holiday-shortened week.
Futures are tied to the Dow The Jones Industrial Average is hovering below the flat line. S&P 500 futures and Nasdaq 100 futures added 0.03% and 0.1%, respectively.
Last week, the Dow slide 57 points there, while the S&P edged down by 0.04% and so on Nasdaq Composite eked out a 0.12% gain to close at a record for the fifth session in a row. For this week, the major averages were mixed, with the blue-chip Dow posting its third losing week in four, while the S&P and Nasdaq gained for the seventh week in the last eight, supported by a new technology rally.
In the week ahead, investors will wonder if the rally can continue, with cracks emerging in the market’s outlook.
“There are really two themes…investors are trying to play this year,” NB Private Shannon Saccocia told CNBC’s “Closing Bell” on Friday. “One has been the theme of secular AI and then the idea of ​​manufacturing, reshoring and, frankly, continued strong economic growth.”
“We’re seeing weaker economic data and maybe you’re holding your breath or sighing that maybe … the reacceleration from a manufacturing and industrial perspective is slower than what we’re seeing from an AI perspective,” he added.
This week will be a holiday-shortened week, with the market closed Wednesday for the Juneteenth holiday.
Investors are keeping an eye on May retail sales data, due out on Tuesday, as well as home and home sales data next week. Lennar, Kroger, Darden Restaurants and CarMax will report earnings each month.
