U.S. inventory futures had been pointing to a modestly larger open on Tuesday, following the longest weekly profitable streak since 2017 for the S&P 500. But volumes are anticipated to be decrease as many buyers take an prolonged vacation break in a shortened week of buying and selling.
How are stock-index futures buying and selling?
-
S&P 500 futures
ES00,
+0.13%
rose 6.5 factors, or 0.1% to 4,811.50 -
Dow Jones Industrial Average futures
YM00,
+0.12%
gained 46 factors, or 0.1%, to 37,785 -
Nasdaq-100 futures
NQ00,
+0.18%
gained 30 factors, or 0.1%, to 17,010
Stocks completed a uneven, preholiday buying and selling session principally larger on Friday. The S&P 500
SPX
rose 7.88 factors, or 0.17%, to 4,754.63, the Dow industrials
DJIA
slipped 18.38 factors, or 0.05%, to 37,385.97 and the Nasdaq Composite
COMP
gained 29.11 factors or 0.19%, to 14,992.97.
What’s driving markets
Friday’s session marked eight straight weekly beneficial properties for all three main indexes, and the longest such streak for the S&P 500 because the week ending Nov. 3, 2017. For the Dow, it marked the longest profitable run since Feb. 22, 2019.
Many buyers could now be searching for the so-called “Santa Claus rally” to additional gasoline stock-market beneficial properties which were pushed of late by optimism that the Federal Reserve could begin slicing rates of interest as early as the primary half of 2024.
That interval will usually see shares rise over the past 5 buying and selling days of the present calendar yr and the primary two buying and selling classes of the brand new yr. But some analysts have cautioned that buyers ought to dial again their expectations for this seasonal year-end reward, particularly as a number of the rate-cut hopes for the Fed could also be overly optimistic.
Data launched Friday confirmed the speed of U.S. inflation primarily based on the Federal Reserve’s most popular PCE (Personal Consumption Expenditures) index fell in November for the primary time since 2020 and indicated that value pressures proceed to subside.
The remainder of this week will see solely a smattering of financial updates, together with the October S&P Case-Shiller residence value index for 20 cities due at 9 a.m. Eastern. Weekly jobless claims and pending residence gross sales might be launched on Thursday.
And subsequent week will mark one other shortened week for merchants, with markets closed on Monday in observance of the New Year’s Day vacation.
Source web site: www.marketwatch.com
