{"id":24896,"date":"2023-06-20T07:29:40","date_gmt":"2023-06-20T11:29:40","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/u-s-stock-futures-slip-after-three-day-break\/"},"modified":"2023-06-20T07:29:41","modified_gmt":"2023-06-20T11:29:41","slug":"u-s-stock-futures-slip-after-three-day-break","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=24896","title":{"rendered":"U.S. stock futures slip after three-day break"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002190107\" role=\"document\">\n<p>U.S. stock index futures slipped lower Tuesday after a three-day break, with Chinese equities wilting on disappointment over the monetary stimulus efforts in the world\u2019s number-two economy.<\/p>\n<h2>What\u2019s happening<\/h2>\n<ul class=\"articleList\">\n<li>\n      Dow Jones Industrial Average futures<br \/>\n        YM00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210407078\/delayed\" class=\"negative\">-0.32%<\/bg-quote><br \/>\n       fell 101 points, or 0.3%, to 34503.<\/p>\n<\/li>\n<li>\n      S&amp;P 500 futures<br \/>\n        ES00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209948968\/delayed\" class=\"negative\">-0.33%<\/bg-quote><br \/>\n       dropped 14 points, or 0.3%, to 4440.<\/p>\n<\/li>\n<li>\n      Nasdaq 100 futures<br \/>\n        NQ00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210219788\/delayed\" class=\"negative\">-0.34%<\/bg-quote><br \/>\n       decreased 67 points, or 0.4%, to 15202.<\/p>\n<\/li>\n<\/ul>\n<p>On Friday, the Dow Jones Industrial Average<br \/>\n        DJIA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598065\/realtime\" class=\"negative\">-0.32%<\/bg-quote><br \/>\n       fell 109 points, or 0.32%, to 34299, the S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"negative\">-0.37%<\/bg-quote><br \/>\n       declined 16 points, or 0.37%, to 4410, and the Nasdaq Composite<br \/>\n        COMP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598365\/realtime\" class=\"negative\">-0.68%<\/bg-quote><br \/>\n       dropped 93 points, or 0.68%, to 13690.<\/p>\n<div class=\"paywall\">\n<h2>What\u2019s driving markets<\/h2>\n<p>Investors were in a cautious mood following the U.S. long weekend in honor of the Juneteenth federal holiday, but that\u2019s after a strong run. The S&amp;P 500 gained 2.6% last week, its fifth week in a row of gains, as the tech-heavy Nasdaq Composite took its winning run to eight weeks.<\/p>\n<p>Mike Wilson, Morgan Stanley\u2019s chief U.S. equity strategist, said both retail and institutional investor sentiment are at their highest levels in over two years.<\/p>\n<p>\u201cWe note that the consensus is right about 80% of the time, which means such shifts in sentiment and positioning can often be right as the collective intelligence of the market knows best,\u201d he said. \u201cHowever, given our fundamental view on growth, we find it hard to get on board with the current excitement and narrative supporting it. In other words, if second half growth re-accelerates as expected, then the bullish narrative being used to support equity prices will be proven correct.\u201d <\/p>\n<p>China cut its 1- and 5-year lending rates by 10 basis points, which investors viewed to be modest, particularly after a Friday state council meeting didn\u2019t result in other concrete measures. According to Societe Generale, there were expectations the 5-year rate, the benchmark for mortgages, would be cut by 15 basis points.<\/p>\n<p>The Hang Seng<br \/>\n        HSI,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598030\/delayed\" class=\"negative\">-1.54%<\/bg-quote><br \/>\n       fell 1.5% in Hong Kong.<\/p>\n<p>Alibaba<br \/>\n        BABA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/201948298\/composite\" class=\"negative\">-0.11%<\/bg-quote><span>,<\/span><br \/>\n       the Chinese internet giant, also was in the spotlight after announcing that its CEO and chairman will step down to focus on the cloud division, with Brooklyn Nets owner Joseph Tsai becoming chairman.<\/p>\n<p>The U.S. economics calendar on Monday includes housing starts data, as well as a panel with both New York Federal Reserve President John Williams and Fed Vice Chair for Supervision Michael Barr. On Wednesday Fed Chair Jerome Powell is due to deliver semi-annual congressional testimony.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/u-s-stock-futures-slip-after-three-day-break-39b723b8?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stock index futures slipped lower Tuesday after a three-day break, with Chinese equities wilting on disappointment over the monetary stimulus efforts in the world\u2019s number-two economy. What\u2019s happening Dow Jones Industrial Average futures YM00, -0.32% fell 101 points, or 0.3%, to 34503. S&amp;P 500 futures ES00, -0.33% dropped 14 points, or 0.3%, to 4440. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24897,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-24896","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. stock futures slip after three-day break | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. stock index futures slipped lower Tuesday after a three-day break, with Chinese equities wilting on disappointment over the monetary stimulus efforts\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=24896\" 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