Stocks hold near records as first half of 2021 wraps up

Non-meme small caps worth investing in

Icon Advisers founder and CEO Craig Callahan shares his stock picks.

U.S. stock futures were little changed Wednesday as markets headed into their final day of trading in the first half of the year. 

Dow Jones Industrial Average futures fell four points, or 0.01%. Both S&P 500 futures and Nasdaq 100 futures were also little changed. 

The Dow is up 12% so far this year while the S&P 500 has climbed 14% and the Nasdaq Composite is higher by 13%. Both the S&P 500 and the Nasdaq Composite finished at record highs on Tuesday. 

Ahead of the market’s open, investors will get a preview of Friday’s June jobs report with the release of the ADP employment report.

In stocks, Big Tech shares, including Apple Inc. and Facebook Inc., were in focus after The Wall Street Journal reported the Biden administration is drafting an executive order that would direct federal regulators to more closely examine industries that are controlled by a small number of companies. 

Elsewhere, General Mills Inc. reported quarterly earnings and revenue that topped Wall Street estimates but warned that organic net sales would decline as much as 3% in the current fiscal year as at-home food demand declines across most of its core markets.  

Database software developer MangoDB Inc. priced a 2.5 million offering of new common shares. The sale, which raised about $889 million, was done at a price of $365 per share, a 4.9% discount to where shares closed Tuesday.  

Chinese ride-hailing giant Didi Global Inc. priced shares in its initial public offering at $14 apiece, the high end of its range, after increasing the number of shares sold. Shares will trade on the New York Stock Exchange under the ticker symbol DIDI. 

In commodities, West Texas Intermediate crude oil rose 93 cents to $73.91 a barrel and gold slipped $5.50 to $1,758.10 an ounce. 


Overseas markets were mostly lower.

European bourses were weaker across the board, with Germany’s DAX 30 declining 1%, France’s CAC 40 sliding 0.79% and Britain’s FTSE 100 down 0.59%. 

In Asia, China’s Shanghai Composite rallied 0.5% while Hong Kong’s Hang Seng index lost 0.57% and Japan’s Nikkei 225 slipped 0.07%. 

Source: Read Full Article