We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Pre-market futures are mixed at this hour, bouncing around a bit without much guidance from economic reports or a stream of Q2 earnings results as of yet. (The Big Banks like JPMorgan (JPM - Free Report) and Citigroup (C - Free Report) report next Tuesday; Delta Air Lines (DAL - Free Report) is expected on Thursday.)
Right now, the Dow is -69 points, the S&P 500 is +2 points, the Nasdaq +41 and the small-cap Russell 2000 is up +7 points. Bond yields are climbing a bit from the start of the week: +4.43% on the 10-year and +3.91% on the 2-year. The shorter-term yield is roughly in the middle of where it’s been the past month, while the 10-year is a tad higher than the median.
Small-Business Confidence Ticks Down a Tad
Early this morning, the latest monthly NFIB Small-Business Optimism Index for June has come out, registering a headline of 98.6 — down a tad from the 98.8 posted a month ago and the 98.7 anticipated, but still remaining above the more than half-century average of 98. The Uncertainty Index dropped 5 points month over month to 89.
Taxes were considered the biggest problem for small businesses last month: +19% of those surveyed said so. This is the highest we’ve seen since July 2021, and overtakes inflation and labor quality as small business owners’ biggest concern currently. Perhaps these concerns will be cooled now that the biggest tax cut bill in memory has been passed.
What to Expect from the Stock Market Today
It’s Amazon (AMZN - Free Report) Prime Day starting today and running through Friday. This is the first year (Prime Day began in 2015) has expanded to four consecutive days; it doubled from one to two days back in 2017. Growth for Prime Day had begun to wane in past years, but last year it grew +11% to $14.2 billion. Compare this with the first-ever Prime Day, which fetched $0.9 billion.
Perhaps we’ll see trade deals being finalized with U.S. trading partners today, as the supposed “deadline” for reciprocal tariffs brought about on “Liberation Day” April 2nd were paused for 90 days one week later (check the stock market around that time for why). U.S. Treasury Secretary Scott Bessent yesterday suggested many trade deals are imminent in the coming days, but with nothing more than a couple trade outlines to show for this 89-day pause so far, we’ll believe it when we see it.
When the closing bell sounds this afternoon, Consumer Credit for May will hit the tape. Expectations are for a significant drawdown from $17.87 billion the prior month to $10.0 billion this time around. But these monthly figures can be rather volatile: we saw negative prints for February of this year and November of last year, with December 2024 rocketing up to $37.05 billion.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Small-Business Optimism Comes in Lower
Pre-market futures are mixed at this hour, bouncing around a bit without much guidance from economic reports or a stream of Q2 earnings results as of yet. (The Big Banks like JPMorgan (JPM - Free Report) and Citigroup (C - Free Report) report next Tuesday; Delta Air Lines (DAL - Free Report) is expected on Thursday.)
Right now, the Dow is -69 points, the S&P 500 is +2 points, the Nasdaq +41 and the small-cap Russell 2000 is up +7 points. Bond yields are climbing a bit from the start of the week: +4.43% on the 10-year and +3.91% on the 2-year. The shorter-term yield is roughly in the middle of where it’s been the past month, while the 10-year is a tad higher than the median.
Small-Business Confidence Ticks Down a Tad
Early this morning, the latest monthly NFIB Small-Business Optimism Index for June has come out, registering a headline of 98.6 — down a tad from the 98.8 posted a month ago and the 98.7 anticipated, but still remaining above the more than half-century average of 98. The Uncertainty Index dropped 5 points month over month to 89.
Taxes were considered the biggest problem for small businesses last month: +19% of those surveyed said so. This is the highest we’ve seen since July 2021, and overtakes inflation and labor quality as small business owners’ biggest concern currently. Perhaps these concerns will be cooled now that the biggest tax cut bill in memory has been passed.
What to Expect from the Stock Market Today
It’s Amazon (AMZN - Free Report) Prime Day starting today and running through Friday. This is the first year (Prime Day began in 2015) has expanded to four consecutive days; it doubled from one to two days back in 2017. Growth for Prime Day had begun to wane in past years, but last year it grew +11% to $14.2 billion. Compare this with the first-ever Prime Day, which fetched $0.9 billion.
Perhaps we’ll see trade deals being finalized with U.S. trading partners today, as the supposed “deadline” for reciprocal tariffs brought about on “Liberation Day” April 2nd were paused for 90 days one week later (check the stock market around that time for why). U.S. Treasury Secretary Scott Bessent yesterday suggested many trade deals are imminent in the coming days, but with nothing more than a couple trade outlines to show for this 89-day pause so far, we’ll believe it when we see it.
When the closing bell sounds this afternoon, Consumer Credit for May will hit the tape. Expectations are for a significant drawdown from $17.87 billion the prior month to $10.0 billion this time around. But these monthly figures can be rather volatile: we saw negative prints for February of this year and November of last year, with December 2024 rocketing up to $37.05 billion.