Dow Futures Tick Higher to Start Last Week of June

Stock futures inched higher on Monday as the market is set to enter the last week of June and the first half of 2024 near record highs.

Futures for the Dow Jones Industrials advanced 93 points, or 0.2%, to 39,675.

Futures for the S&P 500 picked up four points, or 0.1%, at 5,537.25.

Futures for the NASDAQ Composite settled 17.25 points to 17,689.36

The S&P 500 scored an intraday record of 5,505.53 on Thursday and posted another winning week. The equity benchmark gained 0.6% last week, notching its eighth positive week in nine. However, signs of exhaustion have started to emerge recently particularly with market heavyweight Nvidia’s back-to-back sell-off.

The chipmaker fell 4% last week after two consecutive declines of more than 3%. The pullback occurred after Nvidia briefly dethroned Microsoft as the most valuable company in the U.S. Chart analysts also pointed to bearish patterns in Nvidia’s recent trading.

There are also a number of key companies reporting earnings this week, including FedEx, Micron, Walgreens Boots Alliance and Nike.

In Japan, the Nikkei 225 jumped 0.5% Monday, while the Hang Seng in Hong Kong inched back less a point.

Oil prices gained 24 cents to $80.97 U.S. a barrel.

Gold prices improved $6.90 to $2,338.10 U.S. an ounce.

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