On Tuesday, the S&P 500 closed near the flatline, but the tech-heavy Nasdaq ended the session above 17,000 for the first time.
Futures tied to the Dow Jones Industrial Average inched lower by 35 points, or 0.09%. S&P 500 futures ticked down 0.05%, while Nasdaq 100 futures hovered near the flatline.popped 0.6% to a record high and closed above the 17,000 threshold for the first time, fueled by a nearly 7% jump inStill, the major averages are on track to close the month with impressive gains, partly propped up by enthusiasm about a better-than-expected quarterly earnings season. The S&P 500 is up 5.
"The number of expected cuts has shrunk, but it's really shrunk for the right reasons. The economy's been good. Inflation is progressing," Tom Lee, head of research at Fundstrat Global Advisors, said Tuesday evening on CNBC's "." "The reality is that 3%, or even 2.7% inflation is really good for corporate profits. I think the earnings outlook actually is far better than most expected … you can see why there's upside for stocks.
Investors are looking to the personal income and expenditures report for April, which includes the PCE inflation reading, out Friday.Futures tied to the 30-stock Dow slipped 34 points, or nearly 0.1%. S&P 500 futures shed 0.03%, while Nasdaq 100 futures added 0.03%.
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