The Dow futures rose before the release of manufacturing figures, and this suggests investors are optimistic about economic growth.
The “stock futures live” is an indicator for the stock market. It is important to keep an eye on this because it can give you a good idea of what will happen in the future.
Stock futures in the United States edged higher on Tuesday, suggesting that the solid start to the year would continue ahead of new manufacturing and job market statistics.
After the broad-market index finished up 0.6 percent and set a new high on Monday, futures connected to the S&P 500 gained 0.2 percent. Futures for the Dow Jones Industrial Average and the Nasdaq-100 both rose 0.2 percent on Tuesday.
Stocks have continued to rise in 2022, with the S&P 500 closing 27 percent higher last year, as investors continue to examine data on the Omicron variant’s spread. According to statistics from Johns Hopkins University, the number of cases has reached an all-time high in the United States, and hospitalizations are on the rise but remain far below pandemic levels.
“The mildness of Omicron, and hence the prospect for reduced disruption and lockdown measures,” said James Athey, an investment manager at Abrdn.
The 10-year Treasury note yield rose to 1.630 percent on Tuesday, up from 1.628 percent on Monday.
The manufacturing purchasing managers’ surveys for December are set to be announced at 10 a.m. ET. Economists predict a slowdown in growth, citing supply-chain concerns as a possible cause of factory constraints in the United States.
At 10 a.m., the Labor Department will release a poll on job vacancies and turnover for November. According to figures from the previous month, there were 3.6 million more job opportunities than those seeking for employment, indicating a tight labor market.
MillerKnoll, a furniture manufacturer, and Smart Global Holdings, a wireless computing company, are slated to report profits after the markets close on Tuesday.
On Monday, the S&P 500 reached a new high.
Courtney Crow/Associated Press photo
Apple shares rose 0.5 percent to $182.93 in premarket trade, putting the company’s market value beyond $3 trillion for the second day in a row. Premarket, certain travel stocks rose as well, with Carnival up 2.5 percent and Royal Caribbean up 1.8 percent.
Oil prices rose slightly ahead of an OPEC+ meeting on Tuesday, when energy ministers will decide whether to continue with planned production increases. Brent crude rose 0.5 percent to $79.38 a barrel, the global benchmark.
Bitcoin has steadied following a two-day drop, nudging up 0.8 percent from its 5 p.m. ET Monday level. It was trading about $46,400, down 32% from its November all-time high.
Overseas, the Stoxx Europe 600 index increased by 0.6 percent. European airline stocks soared, with International Consolidated Airlines up 10%, Wizz Air up 11%, and Ryanair up 9%.
The Turkish lira fell 1% to 13.3 to the dollar on the currency markets. Investors have been evaluating government initiatives aimed at stabilizing the economy, which has caused the currency to swing drastically in recent weeks. The Japanese yen fell 0.5 percent to a five-year low versus the dollar.
“The yen has really come down,” said Gregory Perdon, co-chief investment officer at Arbuthnot Latham. “That’s textbook weakness based on investor propensity to take risk.” “The market tone is that people are purchasing stocks and high yield [bonds].”
Major Asian benchmarks were mixed. The Shanghai Composite Index fell 0.2 percent as new data revealed that Chinese exports were largely flat last month owing to weak global demand, despite a revival in industrial activity. The Hang Seng Index in Hong Kong increased by 0.1 percent.
The Nikkei 225 index in Japan rose 1.8 percent as a cheaper yen attracted investors to the country’s stock market. On Australia’s first trading day of the year, the S&P/ASX 200 Index rose 2%, reaching a four-month high.
Anna Hirtenstein can be reached at [email protected]
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The “u.s. stock market today” is the most watched market in the world and it’s usually a good indicator of what will happen to the economy as a whole. The “u.s. stock market today” rose ahead of manufacturing data that was released later on Wednesday morning.
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