Stock Futures Trade Lower
Stock Futures Trade Lower Tuesday’s trading in stock futures was lower as investors tried to maintain the early 2023 momentum and anticipated more corporate earnings. The Dow Jones Industrial Average futures declined by 75 points or 0.21%. Nasdaq-100 futures fell 0.4%, while S&P 500 futures fell 0.31%. After enjoying a successful first two weeks of […] The post Stock Futures Trade Lower appeared first on FinanceBrokerage.
Stock Futures Trade Lower
Tuesday’s trading in stock futures was lower as investors tried to maintain the early 2023 momentum and anticipated more corporate earnings.
The Dow Jones Industrial Average futures declined by 75 points or 0.21%. Nasdaq-100 futures fell 0.4%, while S&P 500 futures fell 0.31%.
After enjoying a successful first two weeks of trading in the new year, all three major indexes are up. The Nasdaq Composite is rising by 5.9% as investors purchased battered technology shares in anticipation of a better future for growth stocks. Since the beginning of the year, the S&P 500 and Dow have increased by 4.2% and 3.5%, respectively.
Gains have followed the release of the first batch of inflation-related data, which investors interpreted as indicating a slowing economy and on the assumption that it will justify the Federal Reserve to pause interest rate increases once again. The consumer price index for December showed last week that while prices had decreased by 0.11% from the previous month, they were still 6.5% higher than a year earlier.
As The Earnings Season Begins, Investor Attention Is Shifting To Corporate Financials
Banks took center stage on Friday when investors considered remarks about the likelihood of a recession. Tuesday is scheduled to start with reports from Goldman Sachs, Morgan Stanley, and United Airlines before the opening bell.
The world economy is a major topic of discussion at the World Economic Forum this week in Davos, so European markets were subdued on Tuesday.
Early trading saw the pan-European Stoxx 600 circling near its flat line, with autos gaining 0.5% and retail stocks losing a similar percentage.
The three major indices are up for the year after the first two weeks of trading in 2023.
The Nasdaq Composite is leading the charge, rising 5.92% as investors purchased undervalued technology stocks in anticipation of a better environment for growth investments. The Dow and S&P 500 increased by 3.52% and 4.2%, respectively.
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