Stock futures flat close another record after S&P

US stock futures were flat in overnight trading on Tuesday after the S&P 500 closed at new record levels.

The Dow futures recorded a gain of 5 points. The S&P 500 and Nasdaq 100 futures gained 0.04% and 0.1% respectively.

Software company Salesforce reported blowout earnings after Bell on Tuesday. The soon-to-be Dow member expanded more than 10% in expanded business after beating on the top and bottom lines of its second quarter results.

Salesforce will replace Exxon Mobil, Amgen will replace Pfizer and Honeywell International will replace Raytheon Technologies at Dow Ave, S&P Dow Jones Indis said on Monday. The changes are inspired by Apple’s upcoming share split, which would reduce the technology load to the price-weighted average.

HP Enterprise, homebuilder Toll Brothers and retailer Urban Outfitters rang after their better-than-expected earnings.

On Tuesday, the Dow Jones Industrial Average lost 60 points as Apple, Gage’s biggest impact, drew a five-day win streak. The tech giant closed the session by about 0.8%.

The S&P 500 gained 0.36%, to close its 17th record of 2020. The Nasdaq Composite also closed at a record after popping 0.76%. Facebook shares rose more than 3%.

China and the US resumed trade talks on Tuesday. The US Trade Representative’s Office said in a statement that the two sides “have made progress and are committed to taking the necessary steps to ensure the success of the Phase One trade deal”.

CNBC’s chief investment strategist, Jim Paulsen, said the recent “steady decline in Kovid affairs, the urge for new remedies, and renewed involvement in the progress in trade negotiations with China” eventually “converts” the market. .

Dick’s Sporting Goods, Express and Royal Bank of Canada ahead of Opening Bell with earnings season continuing on Wednesday. Box, NetApp, Splunk and Williams-Sonoma will report after the bell on Wednesday.

Later this week, the Federal Reserve will hold its annual seminar on monetary policy. Wall Street will look for further excitement and clues on where the economy is out of the event. Investors will be particularly looking for Powell’s comments on inflation and its impact on the dollar.

Subscribe to CNBC Pro For special insights and analysis, and live business day programming from around the world.


Leave a Reply

Your email address will not be published.