US Stock Market Today: Nasdaq 100 Futures Rally 1%, Dollar Nears 101; Nasdaq, Dow Jones, S&P 500 Outlook

The US stock futures traded broadly on a positive note on July 6, despite a fresh uptrend in the dollar index, which led DXY closer towards the 101 mark. At the time of writing, Nasdaq 100 futures outperformed with nearly a 1% rally, while S&P 500 futures trended higher as well. Dow Jones futures traded cautiously. On Monday, economic data, earnings and geopolitical development will play a role in defining sentiments at Wall Street.

US Stock Futures Today

At present, the Dow Jones Industrial Average Index Futures traded at 53,198, which is broadly flat from the previous session. Meanwhile, the S&P 500 futures advanced by 0.3% to trade around 7,548.00. But it was the tech-heavy Nasdaq futures that saw healthy buying momentum.

The Nasdaq 100 futures surged by 237 points or 0.80%, to trade around 29,789.50, at the time of writing.

The Wall Street futures surged after a record-breaking last week, with the Dow Jones hitting a new all-time high. Also, investors are returning from a three-day holiday.

Last week, Dow Jones surged by 2% and touched a fresh record high of 52,903.85, coming near the pivotal 53,000 mark.

While Nasdaq gained by 2.1% on a week-on-week basis, and stood around 25,832.67. Also, Nasdaq 100 index surged 1% to stay around 29,329.21. Both the tech-heavy indexes have pulled away from 30,000 mark though.

Coming to S&P 500, the index zoomed by 2.33% in past five-day performance. Last week, it ended at 7,483.24.

Among the top contributors to Wall Street last week were healthcare, financials and industrial sectors, offsetting vulnerability of chipmakers and AI stocks.

Going ahead, investors now await the minutes from the Federal Reserve's June policy meeting for further insight into the outlook for interest rates. Markets continue to price in multiple Fed rate hikes this year, even as easing inflation concerns are supported by the normalization of oil flows through the Strait of Hormuz, as per Trading Economics.

US Stock Market: Key Factors To Watch Out

On Monday, the ISM Non-Manufacturing Index data for June 2026 will be out, which will drive sentiments. In May 2026, the ISM Non-Manufacturing Index which is now known as ISM Services PMI, stood at 54.5%, higher than market forecasts of 53.8.

Apart from this, stock specific action could be witnessed due to quarterly earnings. Companies like Barnes & Noble Education Inc. (BNED), NovaBridge Biosciences (NBP), and US Gold Corp. (USAU) will be in focus.

Globally, markets will continue to track developments surrounding the U.S.-Iran dialogue in Doha
and the normalisation of shipping activity through the Strait of Hormuz, given their implications for
crude oil prices and global risk sentiment. Adding, Ajit Mishra - SVP, Research, Religare Broking said, "Investors will also closely assess evolving expectations regarding the U.S. Federal Reserve's policy trajectory."

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