Last Updated: 4:03 PM EST
Stock indices finished today’s trading session in the green. The Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) gained 0.25%, 0.16%, and 0.04%, respectively. Earlier today, the Census Bureau released its United States New Home Sales data for May, which came in at 619,000. For reference, forecasters were expecting a print of 636,000. This was also lower than last month’s report of 698,000.
Furthermore, house prices saw some interesting results. Indeed, the median sales price was $417,400 in May compared to $417,900 in April. However, the average sales price was $520,000, above the $503,700 average seen in the prior month. This is because a smaller percentage of lower-priced homes were sold during the most recent period.
In addition, U.S. Building Permits beat expectations, with a print of 1.399 million compared to the forecast of 1.386 million. Still, this was a decrease from the prior month’s report, which came in at 1.44 million, equating to a 2.8% month-over-month drop.
First Published: 4:28 AM EST
U.S. futures inched higher on Wednesday morning. The upside came after a rally in technology stocks, which helped major Wall Street indices – S&P 500 (SPX) and Nasdaq Composite – to break the three-day losing streak yesterday. Futures on the Nasdaq 100 (NDX), S&P 500, and the Dow Jones Industrial Average (DJIA) were up by about 0.32%, 0.17%, and 0.02%, respectively, at 3:45 a.m. EST, June 26.
Buoyed by a rebound in tech stocks, especially Nvidia (NVDA), the S&P 500 and Nasdaq Composite indices gained 0.39% and 1.26%, respectively. However, the Dow Jones fell 0.76% in Tuesday’s regular trading session.
In major after-hours action, Rivian (RIVN) stock gained nearly 50% on Volkswagen’s plans to invest up to $5 billion in RIVN. Furthermore, FedEx (FDX) jumped 14% on its better-than-expected Q4 results.
In terms of key earnings releases, General Mills (GIS), Paychex (PAYX), Micron Technology (MU), Levi Strauss (LEVI), and H.B. Fuller (FUL) are scheduled to report their quarterly results today.
Meanwhile, the U.S. 10-year treasury yield was down at the time of writing, floating near 4.27%. At the same time, WTI crude oil futures trended higher, hovering near $81.27 per barrel as of the last check.
Elsewhere, European stocks opened higher today as investors awaited the release of the European Consumer Confidence data for June.
Asia Pacific Markets Traded Higher on Wednesday
Asia-Pacific markets traded in the green today as shares of technology and artificial intelligence-related companies closed higher.
Hong Kong’s Hang Seng index was up by 0.06%. At the same time, Japan’s Nikkei and Topix indices traded higher by 1.26% and 0.56%, respectively. Further, China’s Shenzhen Component and Shanghai Composite indices were up by 0.76% and 1.55%, respectively.
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