Recovery bets keep S&P, Nasdaq futures near record highs



(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)

* Futures: Nasdaq up 0.16%, Dow and S&P off 0.11%

By Sagarika Jaisinghani

June 18 (Reuters) - Futures tracking the S&P 500 and the Nasdaq indexes hovered near record highs on Friday as optimism around a speedy economic recovery overshadowed the Federal Reserve's hawkish stance on monetary stimulus.

Wall Street's main indexes were jolted earlier this week after the Fed unexpectedly signaled it could begin tapering its massive stimulus sooner than expected, setting the benchmark S&P 500 .SPX on course to snap a three-week winning streak.

However, investors returned to heavyweight technology stocks in particular on Thursday, focusing on the Fed's projection of the economy growing a faster-than-expected 7% this year.

Shares of Apple Inc AAPL.O , Facebook Inc FB.O , Nvidia Corp NVDA.O and Google-parent Alphabet Inc GOOGL.O rose as much as 1.2% in premarket trading.

Tech-heavy Nasdaq 100 futures NQcv1 were up 0.2% by 06:36 a.m. ET.

Dow e-minis 1YMcv1 and S&P 500 e-minis EScv1 , on the other hand, were down 0.11%. The blue-chip Dow is on course for its second straight week of losses, with mining, financial and industrial stocks among the biggest decliners.

Shares of banks including JPMorgan Chase & Co JPM.N , Goldman Sachs Group Inc GS.N and Citigroup Inc C.N , which tend to perform better when interest rates are high, fell between 0.2% and 0.5%, tracking a dip in bond yields.

U.S. e-commerce group eBay EBAY.O rose 1% as Norway's Adevinta ADEV.OL said the two companies had secured final regulatory approval for a tie-up of their global classified ads businesses.

Transportation finance and logistics company CAI International Inc CAI.N surged 45% after it agreed to a $1.1 billion takeover by Mitsubishi HC Capital Inc 8593.T .
Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Maju Samuel

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.