Stock futures were flat in overnight trade ahead of Tuesday’s consumer confidence data and an important week for economic data.
Dow Jones Industrial Average and S&P 500 futures were flat, while Nasdaq 100 futures were up 0.1%.
In regular trading on Monday, the Dow Jones Industrial Average rose 94.65 points, or 0.27%. The S&P 500 gained 0.7%, while the Nasdaq Composite added 1.31%.
This gain comes as the tech market recovers during regular trading due to shares of Tesla8% increase before the news will require shareholders to split shares to pay dividends to investors.
“I think anyone should be impressed with the resilience of the market, and I’m back with no alternative,” said Erin Browne, managing director and portfolio manager at PIMCO. with CNBC’s “Closing Bell: Overtime” on Monday. “Do you want to invest in bonds when you know that the Fed is raising interest rates, or do you want to invest in stocks where you can get some kind of dividend yield, you can get earnings growth? Enter real and it will give you a comfortable return on your portfolio?”
While, 5 years Treasuries rose above 30 years on Monday, mark the first time reverse from 2006. The shift raises some fears of a recession, although economists typically track the spread between 2-year and 10-year rates, which remains positive.
Oil prices, which have fluctuated in recent weeks amid ongoing geopolitical tensions abroad, fell on Monday. Both US West Texas Intermediate (WTI) crude oil futures and Brent Crude Oil Futures decreased by about 7%, reaching 105.96 USD and 112.48 USD/barrel, respectively. The slide led to energy stocks like Chevron Acrobatic.
Market watchers continue to watch the ongoing war between Russia and Ukraine as Peace talks set to continue in Turkey. Meanwhile, investors are also watching the Fed, as many Wall Street banks up half a point after Chairman Jerome Powell indicates that there could be more strong rallies.
Investors are awaiting consumer confidence and house price data due out on Tuesday, ahead of Friday’s monthly jobs report. According to Dow Jones estimates, economists expect an additional 460,000 jobs in March and the unemployment rate falling to 3.7%.
Lululemon Athletica and RH will also report earnings after the bell on Tuesday.
