U.S. stock futures point to a weak start on Tuesday, signaling a pause after Monday’s record run. Global cues are negative and commodity prices weakened as well. Traders may prefer to wait it out until the Federal Reserve meeting and May inflation reports. A cooler inflation report and/or a dot-plot chart that points to at least two rate cuts could help the market push ahead with renewed optimism. Oracle Corp.’s (NYSE:ORCL) earnings could also be in the spotlight, given the company’s exposure to AI.
Futures
Performance (+/-)
Nasdaq 100
-0.25%
S&P 500
-0.22%
Dow
-0.35%
R2K
-0.85%
In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.25% to $534.34, and the Invesco QQQ ETF (NASDAQ:QQQ) traded down 0.27% at $463.59, according to Benzinga Pro data.
Cues From Previous Session:
Wall Street posted uneasy gains on Monday ahead of some key economic catalysts. The major indices opened lower but reversed course in early trading and advanced steadily in the morning, They broadly consolidated in the afternoon before ending in the green. Energy, utility, communication services, and consumer discretionary stocks were among the biggest gainers of the session.
The Nasdaq Composite and the S&P 500 indices closed at a fresh record, although failing ...Full story available on Benzinga.com
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