The Stock Market Continued to Rise on Friday, as the Boom Continues.

June 24, 2022 at 15:01 PM EDT

Throughout the day, the markets will keep an eye out for any fresh economic data.

There has been an increase of 219 points, or 0.7 percent, in the Dow Jones DJIA +0.64% futures. Futures Nasdaq CompositeCOMP +1.62 percent the are on the S&P 500SPX +0.95% and both up by 0.8 percent. The S&P 500 rose 1%, while the other two indices were all up.

After Thursday’s closing price, “futures have modestly risen,” according to Tom Essaye, the founder of Sevens Report Research.

It’s been like a little rally. Since its intraday low on June 17, the S&P 500 has risen more than 5%. Jerome Powell, the Fed’s chairman, told Congress this week that the central bank would monitor to see whether economic growth and inflation are slowing and if so, the rate of rate increases will drop. A recession has been expected as a result of the Fed’s aggressive rate hike agenda, and the S&P 500 has fallen by approximately 20% from its all-time high.

The stock market might benefit from any economic data that implies a severe downturn in the economy. After the next several Fed meetings, the worst of the rate rises might be over. Stocks may benefit from moderate data, according to the Essay.

There will be some statistics to moderate that on Friday when the University of Michigan releases its consumer mood index. Analysts estimate a 50.2-point score, the same as the previous month, but down from the reading of over 60 points in April. Since then, the trend has been downward as consumers lose faith in their capacity to spend as a result of the long-term high rate of inflation.

On Friday, new-home sales figures will be released as well. To put it another way, May’s sales are likely to be lower than they were in April (587,000) and significantly lower than they were in January (811,000). Mortgage rates have risen significantly this year, resulting in a decrease in new-home sales.

This time around, it’s hoped that the markets will continue to anticipate a time when interest rate increases would slow down. This would serve as a solid foundation for any further gains in the stock market.

A 3.1% gain in premarket trading for FedEx FDX-0.39% (ticker: FDX) follows the transportation company’s release of profits and forecast for the current fiscal year that both met or exceeded Wall Street’s expectations.

In the first quarter of fiscal 2014, BlackBerry announced an adjusted loss of 5 cents a share, which was lower than analysts’ expectations for a loss of 6 cents.

While Zendesk (ZEN) has gained more than 49% in premarket trading, the Wall Street Journal claimed that a consortium of buyout companies was in discussions to acquire the cloud-based customer support software provider of Zendesk (ZEN).

The share price of the online lending marketplace LendingTree (NASDAQ: TREE) has declined over 10% after the business cut sales expectations and updated Ebitda for its second quarter.

The post The Stock Market Continued to Rise on Friday, as the Boom Continues. appeared first on Best Stocks.

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The Stock Market Continued to Rise on Friday, as the Boom Continues.

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