On Monday, May 23, the US stock market closed higher, with major indexes rebounding after a continuous decline.
The Dow rose 618.34 points, an increase of 1.98%, to 31,880.24 points; the Nasdaq rose 180.66 points, an increase of 1.59%, to 11,535.27 points; the S&P 500 index rose 72.39 points, an increase of 1.86%, to 3,973.75 points.
However, on Tuesday, May 24, pre-market trading in the US stock market was dampened as social media giant Snap (SNAP) issued profit and revenue warnings. This may cause index futures to decline, potentially leading to a sharp drop in technology stocks and large caps after the strong rebound on Monday. $Snap Inc (SNAP.US)$
Futures contracts linked to the Dow fell 287 points, or 0.9%, to 31,552. S&P 500 futures fell 1.4%, while Nasdaq futures, mainly composed of technology stocks, dropped by 2%.
The US stock market is currently in a situation where various factors are intertwined. On Monday, President Biden's comments on tariffs boosted market sentiment. The news that semiconductor giant Broadcom may acquire VMware, the former home of Intel CEO, directly stimulated the market and is expected to announce one of the largest acquisitions in the history of the technology sector this Thursday local time, according to media reports.
JPMorgan Chase (JPM) also brought hope to the US stock market at the investor day held on Monday. Not only did it raise its forecast for net interest income and maintain its 17% tangible stock return target, but Jamie Dimon, its CEO...