U.S. stock futures trended mixed early Tuesday, after major indices witnessed a solid run yesterday on continued optimism following the Federal Reserve’s 50 basis points interest rate cut last week. Futures on the S&P 500 (SPX) and the Nasdaq 100 (NDX) were up by about 0.08% and 0.03%, respectively, at 3:42 a.m. EST, September 24, while futures tied to the Dow Jones Industrial Average (DJIA) moved down by 0.03%.
Yesterday, the S&P 500 and the Dow Jones closed higher by 0.28% and 0.15%, marking record levels for both indices. Meanwhile, the Nasdaq composite rose 0.14%.
In major earnings scheduled for today, AutoZone (AZO) and KB Home (KBH) will announce their quarterly results. All eyes will be on Wednesday’s earnings report of semiconductor company Micron Technology (MU), which will reflect the demand scenario in this key market amid the ongoing artificial intelligence wave.
Coming to key economic releases, traders will look at the Conference Board’s Consumer Confidence reading and the Richmond Fed Manufacturing Index for September.
Meanwhile, the U.S. 10-year treasury yield moved higher on Tuesday, floating near 3.77% at the time of writing. Further, the WTI crude oil futures are trending higher, hovering near $71.38 per barrel as of the last check.
Elsewhere, European markets are expected to start the day on a mixed note due to concerns over the region’s growth prospects amid macro uncertainty.
Asia Pacific Markets Traded Higher on Tuesday
Asia Pacific markets trended higher today, as investors cheered China’s policy easing measures, including a 50 basis points cut in the reserve requirement ratio.
At the time of writing, Hong Kong’s Hang Seng Index moved higher by 4%, while China’s Shanghai Composite Index and the Shenzhen Component Index rallied 4.15% and 4.36%, respectively.
Meanwhile, Japan’s Nikkei was up 0.57%, while Topix trended higher by 0.54%.
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