Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

US STOCKS-Futures fall as recovery rally pauses ahead of Fed meeting

Published 06/09/2020, 06:44 PM
Updated 06/09/2020, 06:50 PM
MAR
-
UAL
-
IXIC
-
AAL
-

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window)
* Futures down: Dow 1.21%, S&P 1.05%, Nasdaq 0.64%

By Medha Singh
June 9 (Reuters) - U.S. stock index futures dropped on
Tuesday, giving back some gains after the Nasdaq notched a
record closing high in the previous session, with focus now on
the Federal Reserve's two-day policy meeting.
Stocks in the travel industry including American Airlines
Group Inc AAL.O , United Airlines Holdings Inc UAL.O , Alaska
Air Group Inc ALK.N and Marriott International Inc MAR.O
shed between 4.5% and 9.0% in premarket trading after surging on
Monday.
While no major policy announcements are expected when the
U.S. central bank wraps up its meeting on Wednesday,
policymakers will issue economic projections for the first time
since December, before a decade-long economic expansion was
brought to a grinding halt due to coronavirus-induced lockdowns.
Last week's strikingly strong employment data for May
strengthened views that the worst of the economic fallout from
the pandemic was over, and is also expected to be discussed at
the meeting.
The Nasdaq's .IXIC record closing high on Monday confirmed
a bull market began when markets hit a low on March 23,
according to a widely used definition. The S&P 500, which is
about 5% below its own all-time high, also erased its
year-to-date losses.
At 6:19 a.m. ET, Dow e-minis 1YMcv1 were down 333 points,
or 1.21%. S&P 500 e-minis EScv1 were down 34 points, or 1.05%
and Nasdaq 100 e-minis NQcv1 were down 63.75 points, or 0.64%.
Department store chain Macy's Inc M.N rose 5.8% after
raising $4.5 billion in financing, as it tries to navigate
through the fallout from the COVID-19 pandemic.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.