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Wall Street futures muted on quarter-end as stocks head for strongest quarter in years

Wall Street futures muted on quarter-end as stocks head for strongest quarter in years

U.S. index futures edged lower ahead of economic data, even as the Nasdaq, S&P 500 and Dow remained on track for their strongest quarterly gains in years amid notable premarket stock moves.

Fact Check
The Reuters article directly matches the claim: U.S. futures little changed/edged lower ahead of economic data, with the S&P 500, Nasdaq, and Dow on track for their strongest quarterly gains in years (S&P 500/Nasdaq best since 2020, Dow best since 2022), accompanied by notable premarket moves. CNBC independently confirms the same quarterly milestones and premarket movers, providing strong corroboration.
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Summary

U.S. stock index futures pointed to a muted open on the final trading day of the quarter, with Dow E-minis down 0.11%, S&P 500 E-minis off 0.06% and Nasdaq 100 E-minis lower 0.07% at 8:39 a.m. ET. Even with the softer start, equities were on course for their strongest quarter in years: the Nasdaq had risen about 20% for its best quarter since 2020, the S&P 500 was up 14% for its strongest quarterly gain since 2020, and the Dow had climbed 13% for its best quarter since late 2022. Investors were awaiting the JOLTS job openings report and the Conference Board's consumer confidence index, while also monitoring comments expected from Fed Chair Kevin Warsh in Portugal. In premarket trading, Concentrix fell 24% after cutting annual revenue and adjusted profit forecasts, while AeroVironment jumped 30.4% on strong quarterly revenue.

Terms & Concepts
  • JOLTS job openings report: A U.S. labor market release that tracks available jobs and is watched for signals on economic strength and hiring demand.
  • adjusted profit: A profit measure that excludes certain items to show underlying operating performance.
  • alternative asset managers: Firms that invest in assets such as private equity, hedge funds, credit or real estate rather than traditional stocks and bonds.