{"id":1960052,"date":"2023-06-29T08:09:02","date_gmt":"2023-06-29T12:09:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/futures-edge-higher-as-banks-rise-after-stress-test-results\/"},"modified":"2023-06-29T08:10:13","modified_gmt":"2023-06-29T12:10:13","slug":"futures-edge-higher-as-banks-rise-after-stress-test-results","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/futures-edge-higher-as-banks-rise-after-stress-test-results\/","title":{"rendered":"Banks&#8217; stocks rise after stress test results, boosting futures."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffutures-edge-higher-as-banks-rise-after-stress-test-results%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1960052&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>(Reuters) \u2013 U.S. stock index futures are on the rise as banking stocks clear the Federal Reserve&#8217;s annual stress test, while megacap stocks continue to gain momentum despite the possibility of further interest rate hikes.<\/p>\n<p>Bank of America is up 1.1% in premarket trading, joined by JPMorgan Chase, Goldman Sachs, and Wells Fargo, which all sailed through the Fed&#8217;s annual test, demonstrating their ability to withstand a severe economic downturn.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Bank of New York Mellon and Charles Schwab are also experiencing a nearly 2% increase, while Citigroup sees a slight decline of 0.5%.<\/p>\n<p>Yesterday, the S&#038;P 500 and Dow closed lower after Fed Chair Jerome Powell stated that he does not anticipate inflation reaching the central bank&#8217;s target rate &#8220;this year or next year.&#8221; Additionally, most policymakers expect the central bank to raise interest rates at least twice more by the end of the year.<\/p>\n<p>As a result of these hawkish views, traders are now predicting an 81.8% chance of a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-chairman-powell-set-to-propose-0-25-rate-increase-at-march-meeting\/\" title=\"Fed Chairman Powell Set to Propose 0.25% Rate Increase at March Meeting\">25 basis point interest rate hike<\/a> to a range of 5.25%-5.50% during the Fed&#8217;s July meeting, up from 74.4% a week ago, according to CME Group&#8217;s Fedwatch tool.<\/p>\n<p>Investors eagerly await fresh data, including the final reading of first-quarter U.S. GDP and weekly jobless claims, scheduled for release at 8:30 a.m. ET, to gain insights into the future of interest rates.<\/p>\n<p>The Personal Consumption Expenditure index (PCE), the Fed&#8217;s preferred inflation gauge, for May will be released on Friday. Economists polled by Reuters expect core rates to remain steady at 4.7%.<\/p>\n<p>At 5:42 a.m. ET, Dow e-minis are up 66 points, or 0.19%, S&#038;P 500 e-minis are up 8 points, or 0.18%, and Nasdaq 100 e-minis are up 38 points, or 0.25%.<\/p>\n<p>Micron Technology is experiencing a 3.8% increase after surpassing expectations for its third-quarter results, driven by high demand for its memory chips.<\/p>\n<p>Apple is inching 0.2% higher, following its record-high close on Thursday, and is getting closer to achieving a $3 trillion market capitalization.<\/p>\n<p>Shares of other high-growth companies, such as Tesla and Nvidia, have also risen by more than 1% each.<\/p>\n<p>Walt Disney, however, has dipped 0.5% after a report revealed that KeyBanc downgraded the stock to &#8220;sector weight&#8221; from &#8220;overweight&#8221;.<\/p>\n<\/p>\n<p> (Reporting by Sruthi Shankar in Bengaluru; Editing by Shinjini Ganguli)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/futures-edge-higher-as\/attachment\/file-photo-traders-work-on-the-floor-of-the-nyse-7\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>National Political Correspondent Neil W. McCabe interviewed conservative political consultant Jason Cole, the CEO of Arsenal Media Group, about the 2024 congressional elections, and Cole gave him the list of the Top 10 most vulnerable House Democrats.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Shocking new studies from the CDC reveal patients are hundreds of times more likely to have fatal heart attacks after receiving the COVID vaccines.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The White House is blaming the removal of reporter Simon Ateba and Press Secretary Karine Jeane-Pierre&#8217;s interaction on YouTube on a &#8220;technical glitch.&#8221;<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Daniel McAdams, the executive director at the Ron Paul Institute for Peace and Prosperity, joined One America&#8217;s Stella Escobedo to discuss the analysis of what happened in Russia with Wagner and the future of the Ukraine conflict.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) &#8211; Chinese food delivery giant Meituan announced on Thursday that it is acquiring artificial intelligence (AI) company Light Year from its co-founder\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013 Australia&#8217;s Medibank Private Ltd revealed on Thursday that it is facing a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/apple-seeks-to-fend-off-eu-antitrust-charge-triggered-by-spotify-at-hearing\/\" title=\"Apple fights EU antitrust charge over Spotify complaint at hearing.\">fourth shareholder class-action lawsuit<\/a> over a cyberattack incident last\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Katie Paul NEW YORK (Reuters) \u2013 Meta Platforms&#8217; Oversight Board called for the suspension of Cambodian Prime Minister Hun\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Gus Trompiz PARIS (Reuters) &#8211; French minerals group Imerys announced plans on Thursday to mine lithium in the UK and stated that the\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stock index futures rose slightly on Thursday as banking stocks gained momentum from passing the Federal Reserve&#8217;s stress test. Despite the possibility of more interest rate hikes, megacap stocks were also expected to continue their upward trend. Bank of America saw a 1.1% increase in premarket trading, while JPMorgan Chase, Goldman Sachs, and Wells Fargo also experienced gains.<\/p>\n","protected":false},"author":66,"featured_media":1960053,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1960052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1960052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1960052"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1960052\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1960053"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1960052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1960052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1960052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}