U.S. stock futures are higher in pre-market trading for Tuesday, March 06.The Nasdaq Futures are trading at 6,903.50 for up with +0.38% percent or +26.00 point.The S&P 500 Futures are trading at 2,724.00 for up with +0.20% percent or +5.50 point.The Dow Futures are trading at 24,932.00 for up with +0.27% percent or +67.00 point.
In overnight trading in the Eastern Hemisphere, Japan’s Nikkei 225 are trading at 21,417.76 for up with +1.79% percent or +375.67 point. Hong Kong’s Hang Seng are trading at 30,527.34 for up with +2.14% percent or +640.95 point. China’s Shanghai Composite are trading at 3,289.64 for up with +1.00% percent or +32.72 point. India’s BSE Sensex are trading at 33,841.92 for up with +0.28% percent or +95.14 point at 12:15 PM.The FTSE 100 are trading at 7,184.10 for up with +0.96% percent or +68.12 point. Germany’s DAX are trading at 12,222.95 for up with +1.09% percent or +132.08 point. France’s CAC 40 are trading at 5,198.69 for up with +0.61% percent or +31.47 point. The Stoxx Europe 600 are trading at 373.33 for up with +0.66% percent or +0.66% point.
Tuesday’s Factors and Events
Whether you’re ready or not, the marijuana industry is budding before our eyes. Leading cannabis research firm ArcView has estimated that the North American market could grow sales by an average of 26% annually between 2016 and 2021, leading to nearly $22 billion in annual sales. This growth, coupled with growing favorability toward pot among the public, is a big reason why marijuana stocks have soared.
However, not every cannabis market is necessarily thriving if you dig below the surface. Despite rapidly growing sales in the U.S., pot-based businesses aren’t exactly flourishing . The U.S. federal government has dug in its heels and refuses to alter its Schedule I classification of cannabis, meaning it’s entirely illegal, prone to abuse, and recognized as having no medical benefits. This classification makes life extremely difficult for U.S.-based marijuana businesses, and even medical patients. And, to boot, Attorney General Jeff Sessions is doing everything imaginable to wage war on the cannabis industry and halt its expansion.
Monday’s Activity
U.S. market were higher on Monday. For the day the Dow Jones Industrial Average closed at 24,874.76 for up with +1.37% percent or +336.70 point. The S&P 500 closed at 2,720.94 for up with +1.10% percent or +29.69 point. The Nasdaq Composite closed at 7,330.70 for up with +1.00% percent or +72.84 point.
Other leading market index closes included the small-cap Russell 2000 Index closed at 1,546.05 for up with +0.84% percent or +12.88 point; the S&P 600 Small-Cap Index closed at 939.46 for up with +0.73% percent or +6.78 point; the S&P 400 Mid-Cap Index closed at 1,897.67 for up with +1.01% percent or +19.06 point; the S&P 100 Index closed at 1,201.89 for up with +1.08% percent or +12.85 point; the Russell 3000 Index closed at 1,608.61 for up with +1.08% percent or +17.23 point; the Russell 1000 Index closed at 1,507.15 for up with +1.10% percent or +16.44 point; and the Dow Jones U.S. Select Dividend Index closed at 24,874.76 for up with +336.70 percent or -70.92 point.