Traders work on the trading floor of the New York Stock Exchange.
New York Stock Exchange
U.S. stock futures were hovering near the flat line Tuesday night after gains on the major averages.
Dow Jones Industrial Average Futures It fell 13 points, or 0.03%. S&P 500 Index Futures and Nasdaq 100 Futures fell 0.05% and 0.06% respectively.
Wall Street is coming out of trouble strong meeting Major stock indexes fell as technology stocks outperformed the broader market and oil prices retreated from their highs. 30 stocks Dow Chemical Up 126 points, or 0.3%. this S&P 500 Index rose nearly 1%, while Nasdaq Index Up about 1.5%.
The moves appear to reflect growing optimism that the Fed can achieve a soft landing, especially after Last week’s jobs report It shows that the labor market continues to be strong. Beneficiaries of artificial intelligence NVIDIA and Broadcom rose 4% and 3% respectively.
“I think tech is going to reassert its leadership,” Keith Lerner, co-chief investment officer of Truist Wealth, said Tuesday on CNBC’s “Closing Bell.” “The earnings trend in the tech sector continues to be the strongest in our market. I think we’re going to We will see more money moving into this area.”
“So, of course, we’re going to see some issues,” Lerner said. “However, we believe the underlying trend remains to be higher over time.”
Regardless, the most volatile month in history this year could see further volatility, especially just weeks before the U.S. presidential election. oil price dropped on tuesdayThe index rose earlier this month as conflicts in the Middle East escalated. Meanwhile, the 10-year U.S. Treasury yield has climbed back above 4%.
On the economic front, investors expect the Federal Reserve to release its latest meeting minutes at 2 pm (ET) on Wednesday. September consumer price index and producer price index data will be released on Thursday and Friday respectively.
Earnings season for big banks kicks off Friday JPMorgan Chase and Wells Fargo Bank.
