U.S. stocks rallied a day earlier on signs of an economic recovery and were higher at Friday’s open on hopes that the Federal Reserve would soon end its rate-hiking campaign.
The S&P 500 (^GSPC) and the Dow Jones Industrial Average (^DJI) were both up about 0.4%, while the tech-heavy Nasdaq (^IXIC) gained slightly less.
The University of Michigan Consumer Sentiment Index shows consumers are slightly more confident about the state of the economy, and the data could help the ‘hawkish’ Fed closer to a rate hike in July. have a nature.
The preliminary reading for June was 63.9, compared with a forecast of 60.5, according to Bloomberg estimates. The index fell to 59.2 last month, the first drop since February.
world stocks take the lift Expectations are mounting that China’s economic recovery is stalling and that stimulus measures will need to be stepped up.
But the US bull market could face a test as $4.2 trillion of options expire on Friday. This usually leads to portfolio rebalancing, which in the past has caused sudden price movements.
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