Nasdaq futures barchart observing Nasdaq futures barchart

Observing Nasdaq futures barchart candle formations, a bullish engulfing pattern emerged on the daily chart, often interpreted as trend reversal confirmation. This aligns with improving forward guidance from top Nasdaq-listed corporations. Freeport McMoRan (FCX) is up more than +1% after Bank of America Global Research upgraded the stock to buy from neutral with a price target of $42. The USDA, in its bi-annual report released May 22, projected that global 2025/26 sugar production would climb +4.7% y/y to a record 189.318 MMT and that global 2025/26 human sugar consumption would increase +1.4% y/y to a record 177.921 MMT.  The USDA also forecasted that 2025/26 global sugar ending stocks would climb +7.5% y/y to 41.188 MMT.  The USDA's Foreign Agricultural Service (FAS) predicted that Brazil's 2025/26 sugar production would rise +2.3% y/y to a record 44.7 MMT  FAS predicted that India's 2025/26 sugar production would rise +25% y/y to 35.3 MMT due to favorable monsoon rains and increased sugar acreage.  FAS predicted that Thailand's 2025/26 sugar production will climb +2% y/y to 10.3 MMT. Nasdaq futures barchart depth-of-market data reveals persistent bid stacking at mid-price levels, suggesting that buyers are absorbing short-term liquidity. This pattern often precedes stronger directional moves.