Equity futures flat after unsuccessful rally attempts

Equity futures were flat in Tuesday night trading after key averages failed to bounce attempts.

Futures rose 0.13% or 39 points on average for the Dow Jones Industrial Average, and the S & P 500 and Nasdaq Composite Index rose 0.13% and 0.17%, respectively.

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During regular trading on Tuesday, the Dow Jones Industrial Average fell 491.27 points (1.56%) to 30,946.99 and the S & P 500 fell 2.01% to 3,821.55. The Nasdaq Composite fell 3% to 11,181.54.

The key average recovered early in the session, with the Dow and S & P 500 rising 446 points and 1.17%, respectively. The market entered at 98.7 and gave up those profits following a disappointing consumer confidence index reading that missed the Dow Jones 100 quote.

Concerns about a recession are rising as the second quarter ends on Thursday. Concerns over a slowdown in the economy and aggressive rate hikes consumed much of the first half of 2022 as investors continue to look for bottoms in malicious markets.

The S & P 500 fell by about 20% in 2022, but has been moving at the worst first half of the year since 1970, when the index fell 21.01%. Meanwhile, on a quarterly basis, both the Dow and the S & P 500 are on track for their worst performance since 2020. Nasdaq is heading for the worst three-month period since 2008.

Tuesday’s session ended negative on all major averages, with the exception of energy, which rose 2.7% due to rising oil prices.

Only three Dow Jones Industrial Averages closed at daily highs with Nike-led losses.Stocks of sportswear companies 7% dropped After warning that shipping costs may rise and shipping delays may continue.

Defeated chip stocks Nvidia and Advanced Micro Devices fell by more than 6%, while major tech companies such as Netflix, Amazon and Meta Platforms each fell by about 5%.

Scott Minerd, Global CIO of Guggenheim Partners, said CNBC “as long as sales are orderly, FRB is not interested in stock price levels.”Closing bell: Overtime“On Tuesday,” he said, “The bottom line is that it’s” hell “that can curb inflation until there is some panic here or something that central banks are concerned about.”

Investors on Tuesday continue to focus on China. Relax Covid restrictions For inbound travelers, the quarantine time has been reduced to 7 days. Casino stocks Wynn Resorts and Las Vegas Sands have moved to the top of the news.

On Wednesday, investors look forward to comments from Federal Reserve Chairman Jerome Powell at the European Central Bank Forum. Revenues from Bed Bath & Beyond, General Mills and McCormick are also on the deck.

Equity futures flat after unsuccessful rally attempts

Source link Equity futures flat after unsuccessful rally attempts

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