preloader icon

Apex Trader Funding (ATF) - News

US Stocks To End Record-Clinching Week On Subdued Note, GameStop Slides, Adobe Soars: Fed Speeches And More To Watch Heading Into Friday

The market could pause in the final trading session of the week following its record run, facilitated by tamer-than-expected inflation data. The major index futures were moderately lower in early trading. Adobe Inc. (NYSE:ADBE) will likely come to the aid of the tech sector, which has been on a hot streak. Traders may also pay close attention to the inflation expectations readings from the University of Michigan’s preliminary consumer sentiment report and speeches of a few Federal Reserve officials. Futures Performance (+/-) Nasdaq 100 -0.24% S&P 500 -0.50% Dow -0.78% R2K -1.31% In premarket trading on Friday, the SPDR S&P 500 ETF Trust (NYSE:SPY) slid 0.54% to $539.53, and the Invesco QQQ ETF (NASDAQ:QQQ) traded up 0.29% at $475.36, according to Benzinga Pro data. Cues From Previous Session: With the May producer price inflation report confirming the waning inflationary pressure and the weekly jobless claims rising sharply, stocks got off to a strong start on Thursday. While the Dow Jones Industrial Average reversed course and fell steadily through the session to finish lower, the Nasdaq Composite and the S&P 500 Index recovered from the mid-session weakness and closed firmly in the green. The Nasdaq broke the previous intraday and closing highs, while the S&P 500 Index could post a record only on a closing basis. IT stocks rose sharply, thanks to the support lent by Broadcom, Inc.’s (NASDAQ:AVGO) earnings ...