U.S. stock futures edged lower on Tuesday morning, following a mixed session on Wall Street. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.28%, 0.38%, and 0.32%, respectively, at 3:29 a.m. EST, December 17.
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In yesterday’s trading session, the Dow Jones declined by 0.3%, extending its losing streak to eight consecutive days. In contrast, the S&P 500 and the Nasdaq Composite gained 0.4% and 1.2%, respectively, and closed at new all-time highs. The upside was driven by strong performances from major technology stocks.
In key stock market news, Broadcom (AVGO) gained 11.2% yesterday, with its market cap surpassing the $1 trillion mark. Also, Tesla (TSLA) rose 6.1% to a new record high after a Wedbush analyst raised the price target on the stock.
Moving on, investors are now focused on the Federal Reserve’s monetary policy decision on Wednesday. The central bank is expected to implement a 25-basis-point interest rate cut. However, investors will be closely watching for any indications of future rate cuts and the Fed’s outlook on inflation.
In other major economic reports, U.S. Retail Sales and Industrial Production data points are scheduled for release today. These reports will help investors gain an insight into the state of the U.S. economy.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.418% at the time of writing. At the same time, WTI crude oil futures are trending lower, hovering near $70.41 per barrel as of the last check.
Elsewhere, European indices opened lower on Tuesday morning as investors awaited monetary policy decisions from the Bank of England and the U.S. Federal Reserve.
Asia-Pacific Markets Ended Lower on Tuesday
Asia-Pacific indices closed lower today as traders looked ahead to the Fed’s monetary policy decision, due tomorrow.
At the same time, Hong Kong’s Hang Seng Index was down 0.48%. Also, Japan’s Nikkei and Topix indices declined by 0.24% and 0.37%, respectively. Further, China’s Shanghai Composite and Shenzhen Component indices fell 0.73% and 0.35%, respectively.
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