U.S. stock futures moved up early Tuesday morning as investors look forward to a new month with fresh hope following a positive first business day.
Futures on the Dow Jones Industrial Average (DJIA) grew 0.37%, while those on the S&P 500 (SPX) moved 0.39% higher, as of 4:23 a.m. EST, Tuesday. Meanwhile, the Nasdaq 100 (NDX) futures rose 0.31%.
At the end of the regular trading session on Monday, the Dow had gained 0.26%, the S&P 500 was up 0.57%, and the Nasdaq 100 had moved 1.72% higher. The movements came after a wild session of ups and downs, as investors were still jittery after exiting a hard month in April, which was also the worst month for the Nasdaq Composite in 14 years.
On the other hand, the benchmark 10-year Treasury bond yield hit 3.01% during the session, the highest since December 2018.
On Wednesday, the Federal Reserve is expected to announce its second strategic interest rate hike of the year to contain inflation. The interest rate is largely expected to be raised by 50 basis points.
Meanwhile, a few more major earnings that are still left to be reported, are scheduled to announce their earnings results this week. Pfizer (PFE), Airbnb (ABNB), Starbucks (SBUX), AMD (AMD), and Lyft (LYFT) are among the companies that are scheduled to report earnings before the markets open on Tuesday.
Market participants are also awaiting the Job Openings and Labor Turnover (JOLTS) data, as well as data on April’s auto sales, on Tuesday. These metrics will give a clearer picture of the labor market and the automotive sector from the tumultuous month of April.
Discover new investment ideas with data you can trust
Read full Disclaimer & Disclosure.
