Traders work on the trading floor of the New York Stock Exchange (NYSE) on May 15, 2024 in New York City, the United States.
Brendan McDermid | Reuters
Stock index futures fell late Tuesday after the S&P 500 posted its first consecutive decline since early September.
futures linked Market index It fell nearly 0.2%. Dow Jones Futures fell 159 points, or 0.4%, while Nasdaq 100 Futures down 0.2%.
In the after-hours action, McDonald’sA drop of about 7%. The U.S. Centers for Disease Control and Prevention says the E. coli outbreak is linked to the fast-food giant quarter pound burger Ten people have been hospitalized and one has died. Starbucks Shares fell about 4% after the coffee chain released preliminary quarterly results showing another decline in sales.
In regular transactions, S&P 500 Index and Dow Jones Industrial Average Both posted small declines. this Nasdaq IndexHowever, it was up about 0.2%.
this 10-Year Treasury Bond Yield It has been on an upward trend recently and once exceeded 4.2% on Tuesday, putting pressure on the stock market.
strong economic data Although the Federal Reserve cut interest rates by half a percentage point in September, concerns about the deficit continue to be a factor in the rise in 10-year Treasury yields. Traders are also increasingly worried that central bank policymakers may be reluctant to cut interest rates, even though the Fed has forecast another rate cut. half point value Prune before the end of the year.
To be sure, the backdrop for the stock market remains constructive, said Jeff deGraaf, director of technical research at Renaissance Macro Research.
“The trend is still positive, we don’t have a lot of momentum in the near term, but it’s not the end of the world by any means,” he told CNBC on Tuesday.end bell“Actually, a lot of times good setups result because it’s an integration.
“With today’s investment, historically speaking, the next three months will be brighter than where we were at the end of October,” deGraaf added.
A slew of big names will report earnings on Wednesday. AT&T, Coca Cola and boeing company on deck before the bell rings, while Tesla and International Business Machines Corporation Results will be shared after the close.
