US Futures 31 Oct : Dow Jones Futures Steady, S&P 500 & Nasdaq in Red
US Futures -Dow, S&P 500 and Nasdaq Futures
The US Future indexes, Dow Jones Industrial Average (DJIA) Futures are flat, while S&P 500, and Nasdaq Futures are trading marginally lower on early Tuesday after US markets rallied on the first trading day of the week.
The Dow Jones Industrial Average futures traded 8 points higher or 0.03 percent at 33026 level, while the S&P 500 futures ticked down by 7 points or 0.18 percent at 4178 levels. The Nasdaq composite futures fell 58 points or 0.41 percent at 14358 levels at 1.10 p.m. IST or 3.30 a.m. EDT
US Markets on Monday
On Monday, the US stock markets rallied and ended with significant gains. The surges led by big tech stocks ahead of Apple’s quarterly earnings, monthly job data, and the Fed’s interest rate decision due on Wednesday.
The major US stock market index Dow Jones Industrial Average (DJIA) jumped 511 points or 1.58%, while the S&P 500 index was up 49.45 points or 1.20%. The tech-heavy Nasdaq Composite Index also added 146 points or 1.16% on Monday.
Also read, US Markets Rally: Dow Soars 511 Pts, Nasdaq, S&P 500 Rally Amid Big Tech Surges
The US markets are set to close the month in the red. So far in October Dow Jones and S&P 500 indexes are down about 1.5% and 2.8% respectively, and the indexes are heading for a third consecutive negative month. Meanwhile, the tech-heavy Nasdaq is down around 3.5% in October, also set to close lower for the third straight month.
US Markets Today
On Tuesday, the Federal Reserve will begin its two-day monetary policy meeting, the outcome is expected on Wednesday. Traders will be keeping a close eye on the Fed’s decision on interest rates. According to the CME FedWatch Tool, there are 98% chance that the central bank will keep the current rate as same.
The October payroll report will be released on Friday, and market experts are indicating some slowdown in the labor market.
The 10-year Treasury yield climbed to 4.895% on Monday in now trading edge lower at 4.864% on Tuesday early morning at 3.30 a.m. EDT
On the earning front, Pfizer, Advanced Micro Devices Inc., Amgen, Caterpillar, BP, Anheuser-Busch, Eaton Corp, Stellantis, Marathon Petroleum, and Ecolab Inc., quarterly reports are expected on Tuesday. On the economic front Conference Board Consumer Confidence Index for October will be released today.
Also, read – Stock Market Prediction Next Week (23- 27 Oct 2023)
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