By U.S. stock-index futures remained mostly stable early on Tuesday as traders kept a watchful eye on upcoming economic data.
Futures Trading Update
- S&P 500 futures (ES00) rose 2 points to 5082
- Dow Jones Industrial Average futures (YM00) added 1 point to 39117
- Nasdaq-100 futures (NQ00) gained 16 points to 17993
Previous Day Performance
On Monday, the Dow Jones Industrial Average fell 62 points, while the S&P 500 and Nasdaq Composite also experienced minor declines.
Market Analysis
- Moves in index futures have been relatively small.
- A pause in trading activity follows a recent market rally.
- Positive earnings reports and excitement over AI technology have boosted main indices.
Market Expert Insights
“U.S. markets took a breather after a strong performance driven by earnings and AI potential,” commented Richard Hunter from Interactive Investor.
Economic Data and Rate Cuts
Investors are closely watching upcoming economic data to gauge potential Federal Reserve interest rate cuts.
- The rates debate remains ongoing without significant progress.
- Monday’s trading was quiet as attention turned to an upcoming data calendar.
Conclusion
The market remains cautious as traders and investors await further developments in economic indicators and potential Fed actions.
Economic Events and Corporate Earnings Shake Up Market
The PCE (Personal Consumption Expenditure) price index is set to be released before the market opens on Thursday, with analysts closely watching for any significant increase that may thwart hopes of a Fed rate cut in May.
Federal Reserve Updates and Market Movement
Throughout the week, various Fed officials are scheduled to make statements. Fed Vice Chair for Supervision Michael Barr will be speaking at 9:05 a.m. on Tuesday. The market has been responsive to recent efforts by Fed officials to dispel the notion of impending rate cuts, leading to a rise in the 10-year Treasury yield from 3.8% to its current level of 4.26%.
Upcoming Economic Indicators
On Tuesday, economic updates include January durable goods orders at 8:30 a.m. ET, December S&P Case-Shiller home price index at 9 a.m., and February consumer confidence at 10 a.m.
Corporate News Impact
Investors are closely monitoring corporate developments as well. Recent earnings reports have shown mixed results, with Zoom Video Communications shares surging 10% following positive earnings, while Unity Software stocks plummeted by 20% due to disappointing earnings and forecasts.
Notable Companies Reporting Earnings
Companies reporting earnings on Tuesday include AutoZone, Lowe’s, and Cracker Barrel before the market opens, followed by Devon Energy, First Solar, and Cava after the closing bell.
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