Tonight’s Highlights | Nasdaq Futures Hit Record Highs Pre-Market, Cooling U.S. Consumer Data Boosts Rate-Cut Bets

On Friday, June 27, U.S. futures rose pre-market but pared gains after PCE data release.

 

As of this report, Dow Jones futures were up 0.29%, S&P 500 futures up 0.20%, and Nasdaq 100 futures up 0.22%, with the main contract hitting 22,788, a new record high.

NVIDIA, the “global stock king,” rose 0.5% pre-market near $156, and “stablecoin leader” Circle surged over 4%. Nike jumped over 10% after Q4 2025 revenue beat expectations.

 

The previous trading day, all three major U.S. indexes closed higher, with the S&P 500 and Nasdaq Composite nearing all-time highs, and the Nasdaq 100 up 0.94% to a new record.

 

Recently released data showed U.S. May PCE price index rose 0.1% month-over-month and 2.3% year-over-year, in line with expectations; core PCE rose 0.2% month-over-month and 2.7% year-over-year, both 0.1 percentage points above forecasts.

 

Personal spending fell 0.1% month-over-month, and personal consumption expenditure dropped 0.3%, signaling stagnant consumer spending after an early shopping surge faded.

 

Post-data, traders expect the Fed to start cutting rates in September, with increased bets for three rate cuts in 2025.

 

The previous day, bond giant PIMCO noted that future recessions may rely more on central bank rate cuts than fiscal bailouts, as high global public debt limits government spending capacity.

 

European markets traded higher, with Germany’s DAX up 0.82%, UK’s FTSE 100 up 0.47%, and France’s CAC 40 up 1.3%.

 

Earlier in the day, Japan’s Nikkei 225 closed up 1.43% at 40,150.79, its first close above 40,000 since January.

 

Company News

Nike Q4 Revenue at $11.1 Billion, Beating Expectations  

 

Nike’s Q4 revenue reached $11.1 billion, above the $10.72 billion estimate; gross margin was 40.3%, slightly above the 40.2% forecast; EPS was $0.14, down from $0.99 last year.

 

JPMorgan: Amazon Prime Fee Hike Expected in 2026, Could Generate Billions

 

JPMorgan predicts Amazon may raise Prime membership fees in 2026, consistent with its roughly four-year cycle. Even at $159, user churn or growth impact is expected to be minimal. A $20 U.S. Prime fee hike could add ~$3 billion in annual net sales, with larger gains if international prices rise.