Analysing Dow and Nasdaq Futures: Ahead of Fed’s Speech & Rising Treasury Yields

 

Dow and Nasdaq Futures

 

US futures indexes, Dow and Nasdaq futures are trading marginally lower on Tuesday, as the Treasury yield resurgence ahead of Fed official’s remark scheduled this week.

Nasdaq 100 futures slipped 34 points or 0.22% and at 15198 level. S&P 500 futures also dropped by 11 points or 0.26% at 4323 level. Meanwhile, Dow Jones Industrial Average (DJIA) futures traded lower by 102 points or 0.30% and at 34063 level at 12.40 pm IST or 2.10 a.m. ET.

 

US Markets on Monday

 

On Monday, the US stock market indexes ended slightly higher, however, the upside remains capped as Treasury yields bounced back ahead of the Fed official’s speech later during the week and a slew of corporate earnings. The 10-year Treasury yields climbed to 4.649%, which was settled at 4.519% on Friday. 

Dow Jones Industrial Average (DJIA) gained 34.54 points or 0.10% and closed at 34095.86 while the S&P 500 index was up by 7.64 points or  0.18% and settled at 4365.98 levels. Both the indices were up for the sixth straight session for the first time since June and July this year. 

The tech-heavy Nasdaq was up by 40.50 points or 0.30% and finished at 13518.78 level on Monday. The Nasdaq composite index gained for the seventh consecutive day, the longest winning streak not seen since January.

 

You may also like to read – US Markets: Dow Jones and Nasdaq Composite Index – 6 November 2023 

 

US Markets Today

 

Traders should remain cautious today, as the US market may take a pause and break their winning streak. The market sentiments may damped if the Treasury yield starts its northward journey again. 

On the earning front, Gilead Sciences, Uber Technologies, UBS, Air Products and Chemicals Inc, Occidental Petroleum, Emerson Electric, KKR & Co., D.R. Horton, Coupang, and Rivian Automotive will report their third quarterly earnings today. 

On the economic front, the U.S. Trade Balance for Sep and the IBD/TIPP Economic Optimism Index for November are due today.

 

If you like the “Analysing Dow and Nasdaq Futures: Ahead of Fed’s Speech & Rising Treasury Yields” please share it with others.

 

You may also like to read,     Stock Market Prediction Next Week (6 – 10 Nov 2023)

                                       

 

Happy Investing!!

Editor’s Desk