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Stock market today: Live updates

BusinessStock market today: Live updates

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Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on February 01, 2023 in New York City. 

Michael M. Santiago | Getty Images

U.S. stock futures fell Wednesday as Wall Street resumed a holiday-shortened week.

Dow Jones Industrial Average futures fell by 93 points, or 0.3%. S&P 500 and Nasdaq-100 futures dipped 0.3% and 0.4%, respectively.

Markets were closed Tuesday for the Fourth of July holiday. They closed early Monday.

Investors are coming off a positive session Monday, which kicked off the start of a new month, quarter and half-year for traders. Stocks rose slightly during the shortened trading day, with the Dow Jones Industrial Average adding 10.87 points, or 0.03%. The S&P 500 rose 0.12%, while the Nasdaq Composite closed 0.21% higher.

Those gains built on a strong start to the year. Last week, the Nasdaq closed out its best first half of the year since 1983, while the S&P 500 notched its best first-half advance since 2019, as a surge in interest in artificial intelligence buoyed investor optimism in stocks. The Dow Jones Industrial Average was the laggard, rising just 3.8%.

“We’ve been bullish. We still think there’s a rally,” Carson Group’s Ryan Detrick told CNBC’s “Closing Bell” on Monday, adding, “Maybe we’re due for a pullback sometime August, September, October — perfectly normal — but we’d be a buyer of any weakness.”

On the economic front, traders are watching for May factory orders data out Wednesday after the market open. Economists polled by Dow Jones are anticipating a rise of 0.6%, which would be greater than the 0.4% increase the previous month.

See also  Stock market today: Live updates

Investors are also expecting June’s Federal Reserve meeting minutes at 2 p.m. ET, which could shed some light on the path for interest rate hikes going forward.

Elsewhere, New York Fed President John Williams is expected to speak at 4 p.m. ET at the 2023 Annual Meeting of the Central Bank Research Association (CEBRA) in New York City.

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