S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketUS stock futures trimmed their gains but remained higher on Friday amid evidence of a slowing economy. The S&P 500 and the Nasdaq 100 were set to open 0.4% higher at records, while Dow contracts were 200 points higher. New data showed that personal spending and income unexpectedly contracted in May, while core PCE inflation unexpectedly rose. Still, equities benefited from the outlook of relaxed trade policy and greater confidence over incoming rate cuts by the Federal Reserve. Commerce Secretary Lutnick stated that the US reached a trade agreement with China, consolidating the relief of lower tariffs and preventing rare earth shortages. Officials also hinted at progress in a trade deal with India, suggesting that the White House grew some aversion to trade barriers. In turn, the Treasury removed the Section 899 tax from the upcoming tax bill, aiding foreign investment in the US. Nike futures were 10% higher on strong earnings, while tech benefited from the rebound in risk sentiment.
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