Stock Market Today: S&P 500, Dow Jones Futures Gain Despite US ‘Defensive Strikes’ On Iran—Elbit Systems,
U.S. stock futures rose on Tuesday, after a day’s break for Memorial Day, following a higher close on Friday.
Meanwhile, the 10-year Treasury bond yielded 4.51%, and the two-year bond was at 4.06%. The CME Group’s FedWatch tool‘s projections show markets pricing a 98.1% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.
| Index | Performance (+/-) |
| Dow Jones | 0.51% |
| S&P 500 | 0.52% |
| Nasdaq 100 | 0.73% |
| Russell 2000 | 0.97% |
Stocks In Focus
SCYNEXIS
- SCYNEXIS Inc. (NASDAQ:SCYX) plunged 16.38% after it disclosed a 1-for-8 reverse stock split, effective May 29.
- Benzinga’s Edge Stock Rankings indicate that SCYX maintains a weak price trend in the long, medium, and short terms.
Elbit Systems
- Benzinga’s Edge Stock Rankings indicate that ESLT maintains a strong price trend in the long and medium terms and a weak trend in the short term, with a solid quality score.
Intuitive Machines
- Benzinga’s Edge Stock Rankings indicate that LUNR maintains a strong price trend in the long, short, and medium terms.
Box
- Box Inc. (NYSE:BOX) was up 0.66% as it is scheduled to post quarter earnings after the closing bell. Analysts expect earnings of 36 cents per share on revenue of $304.39 million.
- Benzinga’s Edge Stock Rankings indicate that BOX maintains a weak price trend in the long term but strong trends in the short and medium terms, with a poor growth rank.
Zscaler
- Zscaler Inc. (NASDAQ:ZS) was 1.49% higher as analysts expect it to post quarterly earnings of $1.01 per share on revenue of $834.92 million, after the closing bell.
- Benzinga’s Edge Stock Rankings indicate that ZS maintains a weak price trend in the short term but a strong trend in the long and medium terms.
Cues From Last Session
Health care, utilities, and industrials stocks recorded the biggest gains on Friday, though consumer staples and communication services bucked the overall market trend to close the session lower.
Insights From Analysts
Economist Mohamed El-Erian views the current U.S. stock market and economy as caught in a complex “tug-of-war between profound technological shifts and stubborn macroeconomic and geo-economic realities.” While Wall Street continues to set record highs, driven by the “enormous promise of AI and strong earnings,”
El-Erian warns that this financial stability masks deeper underlying vulnerabilities.
A major concern is the widening disconnect between capital markets and everyday Americans, noting that “beneath the surface… the divide between Main Street and Wall Street grew.”
While the market remains resilient, household sentiment tells a different story, with consumer confidence hitting record lows amid “higher-for-longer” inflation and interest rates.
Furthermore, El-Erian highlights that the Federal Reserve faces a complicated road ahead under new leadership. He cautions that the economic outlook remains highly uncertain, threatened by potential demand destruction and geopolitical friction.
Ultimately, he stresses that escaping immediate financial risks is not the same as securing long-term economic stability, stating that “escaping immediate risks is not the same as securing sustained safe passage.”
Upcoming Economic Data
Here’s what investors will be keeping an eye on this week.
Commodities, Crypto, And Global Equity Markets
Crude oil futures were trading lower in the early New York session by 3.89% to hover around $92.84 per barrel.
Gold Spot US Dollar fell 1% to hover around $4,524.26 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.17% lower at the 99.0680 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.95% lower at $76,611.70 per coin, as per the last 24 hours.
Asian markets closed mixed on Monday, as China’s CSI 300 and South Korea’s Kospi indices rose, while India’s Nifty 50, Hong Kong’s Hang Seng, Japan’s Nikkei 225, and Australia’s ASX 200 indices fell. European markets were also mixed in early trade.
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