Stocks could return to a decline in early Tuesday trading after ending the previous session at near highs. Major index futures are currently market, The Dow futures are down 133 points.
Traders may expect to monetize yesterday’s profits that lifted the Dow towards the trading range caps seen in the last few weeks.
Concerns about the short-term outlook for the market can also weigh heavily on Wall Street, as some analysts warn that the market is too early in light of the ongoing situation. Coronavirus Pandemic.
Most big companies report better-than-expected quarterly results this season, but concerns over valuation have somewhat curtailed buying motivation.
Nonetheless, overall trade activity may be light, as traders look forward to the release of the Labor Department’s carefully watched monthly employment report on Friday.
Economists now expect a surge in 980,000 jobs in April after a surge in 916,000 jobs in May. The unemployment rate is also expected to drop from 6.0% to 5.8%.
Payroll ADP will provide a preview of employment data on Wednesday and will release a report on private sector employment in April.
The US trade deficit hit a record high in March, according to a report released by the Commerce Department this morning.
The Commerce Department said the trade deficit expanded from the revised $ 70.5 billion in February to $ 74.4 billion in March.
The trade deficit was in close agreement with estimates, as economists expected the deficit to grow from $ 71.1 billion, which was originally reported last month, to $ 74.5 billion.
The Department of Commerce plans to announce a new order report for manufactured products in March immediately after the start of trading. Factory orders are expected to increase by 1.3%.
Stock prices almost rose during Monday’s trading, but technology-intensive Nasdaq went against the uptrend. With the advance of the day, the Dow has returned to an astonishing distance to last month’s record highs.
The main averages mixed and ended the day. The Nasdaq fell 67.56 points (0.5%) to 13,895.12, while the Dow rose 238.38 points (0.7%) to 34,113.23 and the S & P 500 rose 11.49 points (0.3%) to 4,192.66. ..
In foreign trade, stock markets in the Asia-Pacific region rose almost on Tuesday, while Japanese and Chinese markets remained closed due to holidays. Hong Kong’s Hang Seng Index rose 0.7% and Australia’s S & P / ASX 200 Index rose 0.6%.
Meanwhile, major European markets are performing differently on the day. The UK’s FTSE 100 index has risen 0.1%, the French CAC 40 index has fallen 0.3%, and the German DAX index has fallen 1.5%.
In commodity trading, crude oil futures rose $ 0.85 to $ 65.34 after rising $ 0.91 to $ 64.49 on Monday. Meanwhile, gold futures have fallen from $ 5.50 to $ 1,786.30 per ounce after jumping from $ 24.10 to $ 1,791.80 per ounce in the previous session.
On the currency side, the US dollar is trading at 109.11 yen, compared to 109.07 yen at the end of the New York stock exchange on Monday. Against the euro, the dollar is valued at $ 1.2024 compared to yesterday’s $ 1.2064.
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U.S. stocks could set back in early trading
Source link U.S. stocks could set back in early trading