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NEW YORK – U.S. stock futures were recovering from negative territory on Tuesday, hours before the opening bell, after ending mixed on Monday as a deluge of corporate earnings reports was scheduled to arrive this week. .
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| I: DJI | DOW JONES AVERAGE | 30960 | -36.98 | -0.12% |
| SP500 | S&P 500 | 3855.36 | +13.89 | + 0.36% |
| I: COMP | NASDAQ COMPOSITE INDEX | 13635.991758 | +92.93 | + 0.69% |
The S&P 500 rose 0.4% to 3,855.36, as the gains from Big Tech’s influential stocks offset the losses of most companies. The Dow Jones Industrial Average fell 0.1% to 30,960.00. The Nasdaq compound, which is full of technology stocks, rose 0.7% to 13,635.99, another record.
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The Russell 2000 index for smaller stocks fell 0.3% to 2,163.27. The 10-year Treasury yield fell to 1.03% from 1.07% on Friday.
In addition to Apple, more than 100 S&P 500 companies are expected to tell investors this week how they fared during the last three months of 2020. Among them are American Express, Johnson & Johnson, 3M, AT&T and Tesla.
U.S. stock futures were recovering from negative territory on Tuesday, hours before the opening bell, after ending mixed on Monday, as a deluge of corporate earnings reports was scheduled to arrive this week. (Colin Ziemer / New York Stock Exchange via AP)
As a whole, analysts expect S&P 500 companies to say that fourth quarter earnings fell 5% from the previous year. It is a milder drop than the 9.4% forecast earlier this month, according to FactSet.
President Joe Biden has proposed a $ 1.9 trillion plan to send $ 1,400 to most Americans and provide other support for the economy. But his party holds only the smallest possible majority in the Senate, making approval uncertain. Several Republicans have already expressed opposition to parts of the plan.
The coronavirus pandemic is also getting worse and causing more damage each day. A UN agency said on Monday that it lost four times as many jobs last year as it did in 2009, during the global financial crisis.
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The Federal Reserve will start a two-day meeting on interest rate policy on Tuesday, and the big expectation is that it will keep the accelerator on the floor to stimulate the economy and markets. He said he plans to keep interest rates low, even if inflation rises above his 2% target.
Meanwhile, traders are watching for increased coronavirus infections in several countries and the rugged launch of vaccines in the United States.
The vaccine maker Moderna said on Monday that it would study whether a booster injection would be needed to protect against coronavirus variants, “just in case.”
“Today, the market’s mood is determined by the hope that the COVID vaccine will mark the end of the biggest economic downturn in our lives or by the stimulus it hopes to keep our heads above water. Yesterday, both hopes were shattered, “said Ipek Ozkardeskaya, senior analyst at Swissquote Bank, in a comment.
Meanwhile, Japan’s Nikkei 225 fell 1% to 28,546.18, while the Shanghai Composite fell 1.5% to 3,569.43. South Korea’s Kospi lost 2.1% to 3,140.31. Shares also fell in Southeast Asia.
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Markets in Australia and India were closed for public holidays.
In another Tuesday’s trading, US benchmark oil lost 37 cents to $ 52.40 a barrel in e-commerce on the New York Mercantile Exchange. It earned 50 cents for $ 52.77 a barrel on Monday.
Brent crude, the international standard, fell 40 cents to $ 55.28 a barrel.
The US dollar fell to 103.74 Japanese yen from 103.76 yen on Monday night. The euro fell to $ 1.2129 from $ 1.2141.