U.S. stock-index futures were little changed Tuesday as traders took a breather before important economic data later in the week, including a closely watched inflation gauge.How are stock-index futures trading
S&P 500 futures
ES00,
+0.13%
rose 1 point to 5081
Dow Jones Industrial Average futures
YM00,
-0.03%
dropped 27 points, or less than 0.1%, to 39,089
Nasdaq-100 futures
NQ00,
+0.27%
gained 20 points, or 0.1%, to 17,997
On Monday, the Dow
DJIA,
S&P 500
SPX
and Nasdaq Composite
COMP
logged small declines. The small pullback came after the Dow and S&P 500 ended last week at records and the Nasdaq Composite flirted with its first record finish in more than two years.
What’s driving markets The tentative trading is extending into a second day after a rally that has left the S&P 500 up 11.4% over just the last three months. “U.S. markets paused for breath after a strong run powered by a largely successful earnings season and renewed excitement over the potential of AI, which has driven the main indices to hover around record highs,” said Richard Hunter, head of markets at Interactive Investor. The cautious tone also comes as investors eye economic data in coming sessions that may clarify the timing of Federal Reserve interest rate cuts. “The ongoing rates debate continues into the new week without significant resolution or change,” said Stephen Innes, managing partner at SPI Asset Management. “Monday brought little color as market participants observed a familiar landscape, with traders and investors bracing for a busy data calendar, and the update on the Fed’s preferred price gauge (PCE) is of keen interest,” Innes added. The PCE, or personal consumption expenditure price index, will be published before the market opens on Thursday, and any notable uptick in the gauge may finally kill off any lingering hopes of a Fed rate cut in May. The rest of the week is also chock-full of Fed officials making comments, though on Tuesday there is just Fed Vice Chair for Supervision Michael Barr, who is due to speak at 9:05 a.m. Eastern.
The market in recent weeks has reacted to a concerted effort by Fed officials to c …
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S&P 500 futures
ES00,
+0.13%
rose 1 point to 5081
Dow Jones Industrial Average futures
YM00,
-0.03%
dropped 27 points, or less than 0.1%, to 39,089
Nasdaq-100 futures
NQ00,
+0.27%
gained 20 points, or 0.1%, to 17,997
On Monday, the Dow
DJIA,
S&P 500
SPX
and Nasdaq Composite
COMP
logged small declines. The small pullback came after the Dow and S&P 500 ended last week at records and the Nasdaq Composite flirted with its first record finish in more than two years.
What’s driving markets The tentative trading is extending into a second day after a rally that has left the S&P 500 up 11.4% over just the last three months. “U.S. markets paused for breath after a strong run powered by a largely successful earnings season and renewed excitement over the potential of AI, which has driven the main indices to hover around record highs,” said Richard Hunter, head of markets at Interactive Investor. The cautious tone also comes as investors eye economic data in coming sessions that may clarify the timing of Federal Reserve interest rate cuts. “The ongoing rates debate continues into the new week without significant resolution or change,” said Stephen Innes, managing partner at SPI Asset Management. “Monday brought little color as market participants observed a familiar landscape, with traders and investors bracing for a busy data calendar, and the update on the Fed’s preferred price gauge (PCE) is of keen interest,” Innes added. The PCE, or personal consumption expenditure price index, will be published before the market opens on Thursday, and any notable uptick in the gauge may finally kill off any lingering hopes of a Fed rate cut in May. The rest of the week is also chock-full of Fed officials making comments, though on Tuesday there is just Fed Vice Chair for Supervision Michael Barr, who is due to speak at 9:05 a.m. Eastern.
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