Index futures, the overnight tape, and the calendar that matters today.
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This is the CAMS Morning Market Brief for Friday, July thirty-first.
Stock index futures are modestly higher this morning, adding to yesterday's strong session. S and P futures are up about a quarter of a percent near seventy four ninety. Nasdaq futures are leading again, up almost nine tenths of a percent, with Dow futures up about half a percent and Russell small cap futures up about four tenths.
That follows a powerful Thursday. The Nasdaq one hundred jumped three point three percent, the S and P five hundred gained one point seven, the Dow rose one point two, and the Russell two thousand added one point four. Under the surface, though, the day was narrower than the headlines suggest. Only five of eleven sectors finished higher. Technology surged five and a half percent and did most of the heavy lifting, with industrials and consumer discretionary also green, while communications, staples, and health care each fell between roughly one and a half and three percent.
The VIX sits near seventeen and was little changed overnight, a fairly calm volatility backdrop even after a big move.
On the calendar, the macro schedule is quiet today. The bigger story is the date itself. This is the final trading day of July, so month end rebalancing flows can add some noise into the close.
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