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Traders work on the floor of the New York Stock Exchange.
Brendan McDiarmid | Reuters
Stock futures rose slightly on Tuesday night as trading on Wall Street fell and indexes moved further away from record levels.
futures tied to Dow Jones Industrial Average Added 84 points (0.2%). S&P500 futures and Nasdaq 100 futures Each rose 0.2%.
Movements after the three major indexes had a negative day.of Dow While it fell by nearly 0.1%, Nasdaq Composite The index fell 0.4% as tech stocks struggled. With a slide of 0.3%, S&P500 It was the third consecutive day of decline.
The move comes after all three major indexes ended last week at record levels. However, despite the recent decline, the three averages are still on pace to close out the trading month and quarter, with both ending at Thursday’s closing bell.
“Valuations can kind of come back down to earth,” said Robert Schein, chief investment officer at Blanke Schein Wealth Management. But “over the long term, this rally has momentum, and there’s a lot of momentum because of liquidity.”
As of Tuesday’s close, the S&P 500 was up 2.1% for the month and 9.1% for the quarter. The Nasdaq rose 1.4% in March and 8.7% over the three-month period, while the Dow rose 0.7% and 4.2% in the respective periods.
Traders will be watching for comments from Federal Reserve Chairman Christopher Waller on Wednesday evening. No closely watched economic data is expected to be released on Wednesday.
Investors will focus on Thursday’s data on jobless claims, gross domestic product and consumer sentiment later in the week. Markets will be closed for Good Friday, but all eyes will be on announcements related to personal income, personal consumption, and consumer spending expected in the morning.
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