S&P 500 Futures Signal Flat Open After Record High Closes

U.S. equity futures pointed to a roughly flat open on July 10 after the S&P 500 and Dow posted record closes on Thursday. The index had rallied 0.51% on July 9 to reclaim its 100-hour MA at 7,454 and 200-hour MA at 7,473, lifting toward the June 2 all-time high of 7,620.90. Weak June payrolls of just 57,000 jobs and 4.2% unemployment drove September rate-cut odds to 90%, outweighing BofA’s corrective Q3 call. Resilient services data, including ISM at 54.0 and S&P Global composite at 51.9, supported the risk-on tone while price pressures eased ahead of PPI and CPI prints.