The stock market will close early today ahead of the Fourth of July holiday
Stocks are eyeing a strong open to today's abbreviated session, with U.S. markets set to close at 1 p.m. ET in advance of the July 4 holiday. Dow Jones Industrial Average (DJI) futures are trading 137 points above fair value, and S&P 500 Index (SPX) and Nasdaq-100 (NDX) futures are higher, too, as tech stocks look set to extend Monday's strength. Despite the early close, traders will still have economic data to digest in the form ofmotor vehicle sales and factory orders.
Continue reading for more on today's market, including:
5 reasons to watch S&P 2,700, according to Schaeffer's Senior V.P. of Research Todd Salamone. JD.com, Alibaba call options still hot despite trade tensions. Don't bet on a Finisar stock comeback. Plus, why Facebook stock is set to tumble, and two streaming stocks gaining on bullish analyst notes.
It was a mixed finish in Asia today. Stocks in Hong Kong returned from the long holiday weekend to pent-up selling pressure, with the Hang Seng giving back 1.4%. Japan's Nikkei also closed lower, shedding 0.1%, while South Korea's Kospi eked out a 0.05% gain. China's Shanghai Composite, meanwhile, added 0.4%, after two officials from the People's Bank of China suggested the central bank could offer supportive measures for the yuan.
European markets are higher at midday, as news that a compromise over migration between German Chancellor Angela Merkel and her interior minister has helped avert a government collapse offsets a flat reading on the eurozone's May retail sales. At last check, the German DAX is up 1.4%, the French CAC 40 is 1% higher, and London's FTSE 100 has added 0.8%, even as Glencore shares sink on reports the mining firm has been issued a subpoena from the U.S. Department of Justice.