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Stock futures prices slightly lower after major averages start 3-day losing streak


U.S. stock indexes futures were slightly lower in overnight trading Tuesday, after posting gains during the session amid signs of easing tensions between Russia and Ukraine.

Futures contracts tied to the Dow Jones Industrial Average fell 39 points. S&P 500 futures fell 0.16%, while Nasdaq 100 futures fell 0.2%.

The main average increases during normal trading, starting three-day losing streak. The Dow rose 422 points, or 1.2%. The S&P gained 1.58%, while the Nasdaq Composite added 2.5%.

President Joe Biden to handle the latest developments between Russia and Ukraine Tuesday afternoon, reiterating that the US will defend NATO territory.

“If Russia continues, we will rally the whole world,” he said, adding that Washington’s allies are ready to impose strong sanctions that will “undermine their ability to compete in the global economy.” economic and strategic Russia”.

The comments are given after The Russian government said earlier in the day that some soldiers who were on the Ukrainian border have returned to their bases.

This helped boost sentiment on Wall Street. Return on benchmark 10 year treasury topped 2% as risk-on bias returned to the market.

Technology was the top performer for the S&P 500, with nine out of 11 groups posting gains on the day. Utilities and energy stocks were the two groups in the red, down 0.6% and 1.4%, respectively.

“US stocks rose on optimism that Russia is unlikely to invade Ukraine this week, and despite another hot PPI report, many on Wall Street still don’t believe the Fed will be as aggressive as some are.” calling this year”. Ed Moya of Oanda said.

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The Labor Department said on Tuesday that wholesale price rose 1% in January, bringing the gain over the past 12 months to 9.7% on an unadjusted basis.

As inflation soars, Wall Street is reviewing minutes from the Federal Reserve’s January meeting, which will be released Wednesday at 2 p.m. ET.

“The latest inflation data continues to define the ‘all-inflation’ theory,” said Michael Cembalest, chairman of investment and market strategy at JP Morgan Asset Management. “After pricing in less than one Fed rally through September of last year, markets and Fed watchers now expect between six and seven hikes next year, with some arguing about a 50 basis point increase, not just 25”.

Retail sales data will also be released at 8:30 a.m. Wednesday on Wall Street. Economists are expecting the printout to show sales rose 2.1% in January. That compared to a 1.9% off in December.

Earnings season continues on Wednesday, with several companies scheduled to offer quarterly updates, including Applied Materials, Hyatt, AMC, Nvidia, and Cisco Systems.



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