:max_bytes(150000):strip_icc()/GettyImages-2161632853-57c0ad5feef54b58969aad23d2fb3e72.jpg?w=1044&resize=1044,0&ssl=1 "Stock Futures Show Mixed Signals as Major Indexes Approach Record Highs")
:max_bytes(150000):strip_icc()/GettyImages-2161632853-57c0ad5feef54b58969aad23d2fb3e72.jpg?w=1920&resize=1920,0&ssl=1 "Stock Futures Show Mixed Signals as Major Indexes Approach Record Highs")
Stock futures are mixed on Tuesday as fourth-quarter trading gets underway with major indexes at record highs, while investors await key economic data releases in the coming days.
Futures tied to the Dow Jones Industrial Average were down 0.3%, while those linked to the S&P 500 were off less than 0.1% and Nasdaq 100 futures were up 0.1%. The major indexes rose on Monday, with the Dow and S&P 500 hitting record closing highs, to cap off a strong month and quarter. The S&P 500 is up 21% so far this year, its best start to a year in the 21st century.
U.S. stocks have rallied as investors have grown increasingly confident that the economy is headed for a soft landing and the Federal Reserve will continue cutting its benchmark interest rate, after the central bank eased rates for the first time in four years last month. While Fed officials have made clear that the easing will continue, Fed Chair Jerome Powell said Monday that the Fed’s policy committee isn’t in a hurry to cut rates, noting that incoming data will guide decision-making.
The economic data calendar is busy the remainder of the week, with the big release coming Friday with the September jobs report. Market participants will be keeping close tabs on the economic releases, as well as several scheduled appearances from Fed officials this week.
Mega-cap tech stocks, which have helped lead the broader market’s gains this year, were mixed in premarket trading Tuesday. AI investor favorite Nvidia (NVDA), Amazon (AMZN) and Alphabet (GOOGL) were gaining ground, while Apple (AAPL), Microsoft (MSFT) and Meta Platforms (META) moved lower ahead of the bell.
Nike (NKE) shares were down slightly ahead of the release of the athletic apparel company’s earnings report after the closing bell.
Gold futures were up 0.5% at around $2,670 an ounce, after hitting record highs above $2,700 late last week, while bitcoin was up slightly to around $63,800.
How the Major Indexes Performed in September and Q3
34 minutes ago
The Nasdaq Composite was the big gainer among the three major indexes in September, rising 2.7%. Each of the indexes recovered from steep selloffs recorded during the first week of the month. The S&P and Dow are riding five-month winning streaks, while the Nasdaq has posted gains in two straight months.
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For the third quarter, the Dow Jones Industrial Average turned in the best performance, rising 8.2%.
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Major Stock Index Futures Mixed
1 hr 23 min ago
Futures tied to the Dow Jones Industrial Average were down 0.2%.
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S&P 500 futures were down fractionally.
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Nasdaq 100 futures were up 0.1%.
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