Following the sold-out seen in the previous session, stocks may return upwards in early Tuesday trading. Major index futures are currently market, The Dow futures are up 163 points.
Traders may expect to pick up stocks at relatively low levels after the sharp fall seen on Monday lowered the key average to the lowest level in almost a month.
Positive reactions to the latest earnings news could also contribute to Wall Street’s early strength, with tech giant IBM Corp. (IBM) reporting better results than expected in the second quarter before the market. It rose significantly in the previous transaction.
Travelers (TRV) and Halliburton (HAL) may also move upwards after reporting second-quarter earnings that exceeded analysts’ expectations.
However, due to concerns about a surge in new products, the willingness to purchase may be somewhat restrained. Coronavirus The incident continues to weigh on the market.
On the economic front, the Commerce Department released a report in June showing a significant increase in new home construction.
According to the Department of Commerce, housing rose 2.1% in May to 1,546,000, and then rose 6.3% to 16.43 million annually in June.
Economists expected housing to grow 1.1 percent from the originally reported 15.72 million last month to a proportion of 1.59 million.
Meanwhile, the report showed that building permits fell 2.9% in May to 16.83 million and then fell 5.1% in June to an annual rate of 1,598,000.
Building permits, an indicator of future housing demand, were expected to increase 1.1% from 16.81 million, which was first reported last month, to 1.7 billion.
Stock prices plummeted during trading on Monday, expanding the pullback seen in last Friday’s session. Due to the plunge on the day, the main average ended the session with the lowest closing price in almost a month.
The main average regained some ground once it entered the closing price, but remained firmly negative. The Dow fell 725.81 points (2.1%) to 33,962.04, the Nasdaq fell 152.25 points (1.1%) to 14,274.98, and the S & P500 fell 68.67 points (1.6%) to 4,258.49.
In overseas trading, the stock market in the Asia-Pacific region fell sharply on Tuesday. Japan’s Nikkei 225 Index fell 1%, while China’s Shanghai Composite Index fell 0.1%.
Meanwhile, major European markets have rebounded after significantly lowering the previous session. France’s CAC 40 index rose 0.7%, the UK’s FTSE index rose 0.4%, and Germany’s DAX index rose 0.2%.
In commodity trading, crude oil futures have fallen from $ 0.05 to $ 66.37 after plunging from $ 5.39 to $ 66.42 on Monday. Meanwhile, gold futures have risen from $ 13.60 to $ 1,822.80 per ounce after falling from $ 5.80 to $ 1,809.20 per ounce in the previous session.
On the currency side, the US dollar is trading at 109.52 yen, compared to 109.46 yen at the end of the New York transaction on Monday. Against the euro, the dollar is valued at $ 1.1770 compared to yesterday’s $ 1.1800.
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U.S. stocks could regain ground with early trading
Source link U.S. stocks could regain ground with early trading