Stock futures rise slightly as the market ends July with solid gains, but a recession may be looming, warns top economist

Stock futures rose slightly as the market is set to end July with solid gains. The S&P 500 is on track for its fifth consecutive positive month, while the Nasdaq Composite is also heading for its fifth straight winning month. The Dow Jones Industrial Average is up 3.1% in July, with a 13-day winning streak last week. The market has seen broadening participation beyond mega-cap stocks, supported by resilient economic data, receding inflation pressures, and expectations of the end of the Federal Reserve's rate-hiking campaign. Investors will now focus on the upcoming jobs report, while strong earnings have been reported by a majority of companies so far this season.