On June 29, 2026, U.S. futures declined as markets began the new month following a strong first half of the year. The Dow Jones Industrial Average futures dropped 170 points (0.33%), with S&P 500 and Nasdaq 100 futures also seeing slight decreases. In the previous day’s trading, major indices concluded the first half on a high note, with the Dow rising 8.9%, S&P 500 up 9.6%, and Nasdaq increasing 12.8%. Small-cap stocks in the Russell 2000 soared nearly 22%, the best performance since 1991, spurred by a surge in semiconductor and AI-related stocks that added $2 trillion to market capitalization.
Looking ahead, Paul Hickey of Bespoke Investment Group expressed caution regarding the semiconductor sector’s rapid growth, suggesting it might be time for a breather. Meanwhile, the Japanese yen fell to a 40-year low, trading at 162.28 yen per dollar. Asian markets exhibited mixed outcomes, with Japan’s Nikkei rising, while South Korea’s Kospi and Australia’s S&P/ASX 200 fell.
As European markets opened negatively, attention turned to Federal Reserve Chairman Kevin Warsh’s upcoming speech at the European Central Bank Forum, following efforts to reorganize the Fed. Traders anticipated potential interest rate hikes in the ongoing fight against inflation, while economic data releases, including the June ADP employment survey, were also under scrutiny.
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