U.S. stock futures dipped slightly early Tuesday as investors awaited potential catalysts to determine if the market’s positive momentum would persist. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.47%, 0.19%, and 0.34%, respectively, at 2:50 a.m. EST, May 20.
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These movements followed a subdued trading day on Monday, where the S&P 500 edged up by 0.09%, marking its sixth consecutive positive session. Also, the Dow Jones and the Nasdaq Composite (NDAQ) gained 0.32% and 0.02%, respectively.
Even with small gains on Monday, the market has bounced back quickly over the last five weeks. This recovery comes while economic worries, like tariffs and a possible U.S. recession, still loom. Also, investors seem to have shrugged off Moody’s (MCO) recent downgrade of the U.S. government’s credit rating.
On the earnings calendar, investors are focused on reports from Home Depot (HD), Palo Alto Networks (PANW), Nebius Group (NBIS), and homebuilder Toll Brothers (TOLL).
Also, investors will be awaiting commentary from Federal Reserve officials, including St. Louis Fed President Alberto Musalem, for insights into the central bank’s future interest rate policy.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.459%. Simultaneously, WTI crude oil futures are trending higher, hovering near $62.72 per barrel as of the last check.
At the same time, the Gold Spot U.S. Dollar Price dipped to nearly $3,210 per ounce on Tuesday, as the dollar strengthened and Wall Street showed resilience overnight.
Elsewhere, European indices are expected to open higher today. Investors were tracking geopolitical developments, while key earnings reports from Vodafone (GB:VOD), Greggs (GB:GRG), and Swiss Life (SWSDF) might influence market sentiment. Also, Germany’s Producer Price Index data is due today.
Asia-Pacific Markets Traded Mixed Today
Asia-Pacific indices were mixed today, after China cut key lending rates by 10 basis points to boost economic growth amid rising trade tensions.
At the same time, the Hong Kong index was up 1.41%. Also, China’s Shanghai Composite and Shenzhen Component indices closed higher by 0.37% and 0.72%, respectively. However, Japan’s Nikkei and Topix indices declined 0.02% and 0.06%, respectively.
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