US Futures Trade Mixed as Markets Seek Direction in Second Half of the Year

On the first trading day of the second half of the year US futures followed a flat and mixed course. The markets that do not start the week with a certain trend will find their direction according to the data that will come during the week .

Nasdaq Led by Tesla as Electric Vehicle Sales Soar

While the S&P 500 has risen 0.8 % and the Dow Jones is trading sideways Tesla-led Nasdaq is trading at a premium of +0.35 %. Soon after Tesla’s report that its electric vehicle sales over the weekend were substantially greater than anticipated it saw a 6 % increase in pre-opening trading.

Independence Day Holiday Impacts Market Activity

US stock markets will remain open for half a day today and will be closed completely tomorrow due to the US Independence Day . The fact that tomorrow is a holiday and there is no fresh mechanism kept the change in the futures markets to a minimum .

Bullish Outlook for Stock Markets in Second Half of the Year

While the expectations for the second half of the year are generally shaped by the moves from the FED Tom Lee who has been in bull mode for a while he thinks that the rise in the stock markets will keep persisting . As Fundstrat head of research Lee raises target prices for US stock markets. He thinks inflation will fall further in the second half of the year which will help us see a more dovish Fed.

Additional Details

Bitcoin has gone through an increase of over 100 % in 2023 and has been continuing its horizontal movement above $ 30,000 for a while . While BTC’s strong defense of the psychological limit of 30k encourages altcoins the expectation of a summer rally is rising on the side of cryptocurrencies .

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