Stock futures are little changed ahead of first trading day of June: Live updates
Why did the stock market rally appear to lose momentum at the end of May?
The stock market rally appeared to lose momentum at the end of May due to a combination of factors. Investor expectations were high, particularly for growth and tech companies. As a result, companies that missed earnings or issued lackluster forward guidance were punished, causing growth stocks to be affected by moves in interest rates. Additionally, the market was anticipating the Federal Reserve meeting later in the month and braced itself for any potential changes in monetary policy. Overall, the confluence of these factors contributed to the rally losing steam towards the end of May.
How did the Nasdaq Composite perform in May, and how does this compare to its performance in previous months?
The Nasdaq Composite had a strong performance in May, with a gain of 6.9%, marking its best month since November 2023. This comes as part of a broader trend of positive months for the Nasdaq Composite and other major averages. In comparison to previous months, the Nasdaq Composite has seen six positive months in the past seven.
What was the performance of the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 futures ahead of the first trading day in June?
Ahead of the first trading day in June, Dow Jones Industrial Average futures ticked up 25 points, or less than 0.1%. S&P 500 futures were flat, and Nasdaq 100 futures were down 0.1%. Wall Street was coming off a strong May, with all three major averages notching their sixth positive month in seven. The Nasdaq Composite rose 6.9%, its best month since November 2023. However, the rally seemed to lose steam near the end of the month, with the three averages closing May more than 1% below their record highs.