NEW YORK – US equity futures were recovering from negative territory on Tuesday, before the open bell rang after the mixed Monday ended, as corporate earnings reports were scheduled to arrive this week.
|The anchor||Security||last||Change||Change %|
|Me: DJI||Dow jones average||Is 30960||-36.98||-0.12%|
|SP 500||S&P 500||3855.36||+13.89||+ 0.36%|
|I: COMP||NASDAQ Composite Index||13635.991758 is||+92.93||+ 0.69%|
The S&P 500 rose 0.4% to 3,855.36 as a loss for most companies for impressive Big Tech shares. The Dow Jones Industrial Average fell 0.1% to 30,960.00. The Nasdaq Composite, which is loaded with technical stocks, rose 0.7% to 13,635.99 and another record.
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The Russell 2000 index of small stocks fell 0.3% to close at 2,163.27. The 10-year Treasury yield fell to 1.03% from 1.07% late Friday night.
In addition to Apple, more than 100 companies in the S&P 500 are scheduled to tell investors this week how they performed during the last three months of 2020. They include American Express, Johnson & Johnson, 3M, AT&T and Tesla.
As a whole, analysts expect the S&P 500 companies to say that their fourth-quarter profit fell 5% from a year earlier. According to FactSet, they were down 9.4% compared to earlier this month.
President Joe Biden has proposed a $ 1.9 trillion plan to send $ 1,400 to most Americans and provide other aid to the economy. But his party holds only the thinnest possible majority in the Senate, leaving approval uncertain. Many Republicans have already voiced opposition to parts of the plan.
The coronovirus epidemic is also worsening and doing more damage by the day. A United Nations agency said on Monday that it lost four times more jobs in 2009 during the global financial crisis than it did the previous year.
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The Federal Reserve will begin a two-day meeting on interest rate policy from Tuesday, and there is widespread expectation that the accelerator will be maintained on the accelerator for the economy and markets. It has said that there are plans to keep interest rates low even if inflation rises above the 2% target.
Meanwhile, traders are keeping a watchful eye on rising coronovirus infections in various countries and the colliding roll of vaccination in the US. The proliferation of such variants is thought to be more easy and current vaccines can be targeted less effectively.
The vaccine maker Moderna said Monday that it would study whether booster shots would be needed to protect against variants of coronovirus, “with caution.”
“The mood of the market these days is determined either by the expectation that the COVID vaccine will end the greatest economic downturn of our lifetime, or that the stimulus hopes to keep our heads above water. Yesterday, both expectations dashed, ”Ipek Ozarkdeskaya, a senior analyst at Swissquet Bank, said in a comment.
Meanwhile, Japan’s Nikkei 225 index dipped 1% to 28,546.18, while the Shanghai Composite Index dipped 1.5% to 3,569.43. South Korea’s Kospi fell 2.1% to close at 3,140.31. Shares also fell in Southeast Asia.
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Markets in Australia and India were closed for the holidays.
In other Tuesday trading, the US benchmark crude oil fell 37 cents to $ 52.40 a barrel on the New York Mercantile Exchange. It rose 50 cents to $ 52.77 a barrel on Monday.
Internationally, Brent crude gained 40 cents to $ 55.28 a barrel.
The US dollar slipped from 103.76 yen to 103.74 Japanese yen late Monday. The euro fell from $ 1.2141 to $ 1.2129.