Stock futures little changed ahead of holiday-shortened trading week: Live updates

Traders work on the floor of the New York Stock Exchange.

New York Stock Exchange

Stock futures were little changed Sunday evening ahead of the shortened holiday week.

Futures contracts tied to the Dow Jones Industrial Average were hovering below the flat line. S&P 500 and Nasdaq 100 futures rose 0.03% and 0.1%, respectively.

Last week, the Dow Jones fell 57 points on Friday, while the S&P fell 0.04% and the Nasdaq Composite gained 0.12% to close at a record high for the fifth straight session. For the week, the major averages were mixed, with the blue-chip Dow Jones index recording its third losing week in four, while the S&P and Nasdaq recorded their seventh losing week in the past eight, buoyed by the recent rally in the technology sector.

Next week, investors will wonder whether this rally can continue, as cracks appear in market expectations.

“There are really those two themes…investors are trying to play this year,” NB Private’s Shannon Saccocia told CNBC’s “Closing Bell” on Friday. “One was the theme of secular AI, and then the other was the idea of ​​industrialization and reshoring and, frankly, continued strong economic growth.”

“We’re seeing a little bit of weaker economic data and maybe you’re getting a breather or a sigh of relief that the re-acceleration from a manufacturing and industrials perspective is slower to move than what we’re seeing from an AI perspective,” she said. He added.

This week will be a holiday-shortened week, as markets will be closed on Wednesday for the Juneteenth holiday.

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Investors are watching May retail sales data, due Tuesday, as well as home sales and housing starts data later in the week. Lennar, Kroger, Darden Restaurants and CarMax will report quarterly earnings.

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