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Traders work on the floor of the New York Stock Exchange (NYSE) on February 14, 2024 in New York City, USA.
Brendan McDiarmid | Reuters
S&P500 futures Prices were mostly flat early Tuesday as the market’s rally took a lull.
Futures tracking the broad market index fell 0.04%; Dow Jones Industrial Average Futures fell 15 points, or 0.04%. Nasdaq 100 futures It fell by 0.12%.
In after-hours activities, Cargurus and unity software They fell more than 12% and 18%, respectively, as they provided investors with weak guidance on financial performance. on the other hand, zoom video and him and her They soared 10% and 19%, respectively, after earnings reports beat Wall Street expectations.
The moves follow a losing day on Wall Street that dragged down financial markets. Dow and S&P500 That’s below the all-time high seen last week. The Dow and S&P 500 fell 0.16% and 0.38%, respectively. Nasdaq Composite It fell by 0.13%.
Monday was notable as it was the e-commerce giant’s first day. Amazon Exchange walgreens boots alliance As a member of the Dow’s 30 blue-chip stocks.
“Today is kind of one of those holding pattern days,” Baird investment strategy analyst Ross Mayfield said of Monday’s trading. “We’re spending a lot of money on a lot of what happened last week, and we’re about to have big data.”
Looking ahead, investors will focus on Tuesday’s economic data on durable goods, housing and consumer confidence.We’ll also keep an eye on earnings reports from retailers. lowe’s and Macy’s Before the bell, then beyond meat, virgin galactic and rocket lab After the market closes.
These will be released ahead of the closely watched personal consumption expenditure price index for January and personal income data later this week. Investors will be watching these releases for future clues about the health of the economy and insight into the direction of monetary policy.
“PCE has the potential to be a huge catalyst in both directions,” Mayfield said. “PCE is by far the most notable one.”
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