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As The House Prepares To Vote On The Debt Ceiling Bill, S&P 500 Futures Are Unchanged

Following the market’s conclusion of May, which was highlighted by a sharp increase in equities related to artificial intelligence, stock futures maintained stable throughout overnight trading on Wednesday.

The Dow Jones Industrial Average dropped 62 points, or 0.2%, in the futures. Both the S&P 500 and Nasdaq 100 futures were unchanged.

After its fiscal first-quarter revenues exceeded Wall Street’s estimates, Nordstrom’s stock increased 7% in extended trading. The software business raised its full-year projection, but Salesforce disclosed more capital expenses than anticipated, causing its shares to drop by approximately 6%.

The Nasdaq Composite closed May with a 5.8% increase as interest in AI-related stocks grew. The market capitalization of chipmaker Nvidia temporarily reached $1 trillion this week after rising 36% in May. Alphabet, Meta, and Amazon all experienced monthly gains of at least 10%.

Gains outside of technology, however, were scarce. The blue-chip Dow plummeted roughly 3.5% in the month, led down by Nike, Walt Disney, and Chevron, while the S&P 500 edged up 0.3%.

Source (CNBC)

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