Stock Market News: Dow Set to Open Down

S&P 500 and Nasdaq futures are also falling in premarket trading Wednesday.

Nasdaq futures are diving as the prospect of lower interest rates shifts interest to smaller companies over the high-value technology firms that have recently driven gains. The Dow Jones Industrial Average and S&P 500 indexes are also falling Wednesday.

Traders are turning to sectors outside tech after a long run of spectacular gains for the likes of Nvidia, Microsoft, Apple, and Tesla. The Russell 2000 index of small-cap stocks surged 3.5% on Tuesday, helped by decent retail sales figures and investors’ increasing confidence that the Federal Reserve will start lowering interest rates in September.

Why DC’s Crypto Lobby Craves a Biden Dropout

Why DC’s Crypto Lobby Craves a Biden Dropout No one knows how a Biden replacement would treat crypto. But as multiple industry lobbyists told Decrypt, nothing could be worse than the current situation. By Sander Lutz As tension forms, then, at that point, disseminates, then, at that point, fabricates again for President Joe Biden to leave his striving effort for re-appointment, most players in Washington have seen a lot of hazard and little prize in descending openly on one side of the undeniably elevated banter. For DC's crypto strategy pioneers, whether or not to push for Biden to exit is a tacky one. The facts confirm that the president's organization is generally chided in t he crypto business, for a huge number of reasons — from vocally backing the Security and Trade Commission (Sec's) campaign against crypto firms, to its rejecting of key supportive of crypto regulation. Then again, the president's...

Eurozone trade surplus unexpectedly shrinks

Eurozone trade surplus unexpectedly shrinks The Eurozone's trade surplus unexpectedly shrank in May, falling to its lowest level in four months, according to figures released on Tuesday by Eurostat. The single-currency region saw a trade balance of €13.9bn in May, following a downwardly revised €14.2bn surplus in April (initial estimate: €15bn). This was the lowest level since January and well below the €17.1bn surplus expected by economists. Nevertheless, it compared with a trade deficit of €0.4bn in May 2023. The Eurozone exported €241.5bn of goods to the rest of the world in May, down 0.5% on the year before, while imports fell 6.4% year-on-year to €227.6bn. Meanwhile, the wider European Union reported a trade surplus of €9.7bn for the month, compared with a deficit of €2.6bn a year earlier. Read more

Stock Index Futures Plunge With Tech Under Pressure, U.S. Economic Data and Earnings in Focus

Stock Index Futures Plunge With Tech Under Pressure, U.S. Economic Data and Earnings in Focus September S&P 500 E-Mini futures ( ESU24 ) are down -0.79%, and September Nasdaq 100 E-Mini futures ( NQU24 ) are down -1.22% this morning as concerns over stricter U.S. restrictions on Chinese trade and semiconductor technology weighed on sentiment, while investors awaited a fresh batch of U.S. economic data and the next round of corporate earnings. Bloomberg News reported on Wednesday that the Biden administration has informed allies that it is contemplating deploying the most stringent trade measures possible if companies like Tokyo Electron and ASML Holding persist in providing China with access to advanced semiconductor technology. Seeking leverage with allies, the U.S. is considering whether to implement a measure known as the foreign direct product rule, which allows the country to impose controls on foreign-made products using even the smallest amount of American tech...

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