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U.S. stock futures fell on Tuesday, but investors were still keeping an eye on interest rates in preparation for more big bank results after a lackluster start to the earnings season.
Dow Jones Industrial Average (^DJI) futures fell 0.4%, and S&P 500 (^GSPC) futures fell 0.5%. Nasdaq 100 Index Futures (^NDX), which has a high proportion of tech stocks, led the decline, dropping about 0.7%.
All three major indexes closed with weekly gains on Friday, and after a rocky start to 2024, investors will look to financial sector quarterly results and upcoming retail sales to maintain momentum after a rocky start to 2024. I pay attention to statistics.
Goldman Sachs (GS) and Morgan Stanley (MS) will resume earnings season after the holiday closure on Monday. Friday’s results for Bank of America (BAC) and Wells Fargo (WFC) failed to spark enthusiasm, but what new reports show after a challenging year for the dealmaking business. is attracting attention.
Investors are anxiously awaiting Wednesday’s retail sales report and tracking any announcements that could influence policy thinking based on the Federal Reserve’s data. An unexpected slowdown in U.S. wholesale inflation last week raised hopes for a rate cut in March.
Fed Director Chris Waller’s comments expected later on Tuesday for further clues after Atlanta Fed President Rafael Bostic and IMF officials warned it was too early to declare victory on inflation. The focus is likely to shift.
In companies, Tesla (TSLA) stock prices fell after CEO Elon Musk said he wanted to develop artificial intelligence and robotics products elsewhere unless he had about 25% voting rights in the EV maker. did.
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