Fundamental analysis
23 July, 2021
Research Department
U.S. stock futures rose Friday, putting major indexes on track for weekly gains with large technology stocks driving the rally. Futures for the S&P 500 edged up 0.4%, pointing to the index extending gains. The broad market gauge had advanced over 0.9% for the week by Thursday’s close, despite the steep leg down on Monday. Contracts for the Dow Jones Industrial Average ticked 0.3% higher. Futures on the technology-focused Nasdaq-100 added 0.5%. The monthslong rally in stocks has resumed after markets skidded at the start of the week in response to concerns about the fast-spreading Delta variant. Investors have drawn comfort from rapid earnings growth at the biggest American companies. Money managers also say governments in the U.S. and Europe are unlikely to bring in lockdowns that restrict growth, even if rising cases take the shine off the economic recovery.
