S&P, Nasdaq, Dow futures tick up as market closes in on fifth-straight week of gains

Stock index futures were up slightly Friday with bulls enjoying a strong week.

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S&P futures (SPX) +0.2%, Dow futures (INDU) +0.2% and Nasdaq 100 futures (NDX:IND) +0.1% were higher.

Going into Friday’s trading, the S&P 500 (SP500) is up 3%, the Nasdaq Composite (COMP.IND) is up 4% and the Dow Jones (DJI) is up 1.6%.

“Risk assets are exhibiting few nerves at the moment and have continued their relentless advance over the last 24 hours, with the S&P 500 rising for a 6th consecutive session on Thursday for the first time since November 2021,” Deutsche Bank’s Jim Reid said.

The 10-year Treasury yield (US10Y) was flat at 3.72%. The 2-year yield (US2Y) rose 3 basis points to 4.68%.

On the economic calendar, the University of Michigan’s preliminary of June consumer seniment arrives shortly after the start of trading. Economists expect a small rise to 60.

“US Michigan consumer sentiment data offers the always humorous breakdown between Republicans and Democrats (sadly only for headline sentiment – a breakdown of inflation expectations is not provided),” UBS’ Paul Donovan said. “These two groups report that they are living in different economies. To be fair, regional divergence in the US has increased, but the sentiment split is mainly about partisan bias. Obviously, people say one thing in surveys and act totally differently in reality.”

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