Published on 31 May 2024 on Benzinga
... Open Lower Today: What's Dragging Stock Futures? - Invesco QQQ Trust, Series 1 (NASDAQ:QQQ),...
Stocks look set to end May on a positive note, even as index futures pointed to a negative opening on Friday. But sentiment could reverse if important inflation data due ahead of the market open appeases Wall Street. The inflation data assumes importance as it could have a bearing on the June 11-12 Federal Reserve’s rate-setting meeting, with the May consumer price inflation report due only on May 12. Reactions to earnings, especially from the tech and retail spaces, have been mixed.
In premarket trading on Friday, the SPDR S&P 500 ETF Trust SPY fell 0.26% to $521.27, and the Invesco QQQ ETF QQQ traded down 0.47% at $449.44, according to Benzinga Pro data.