US Stock Futures Trade Mixed After Holiday-Shortened Trading Week
US stock futures traded mixed during Tuesday’s evening deals, following a losing session that marked the start of the holiday-shortened trading week. The S&P 500 futures ticked 0.1% lower while Nasdaq futures held steady. This comes after a decline in major benchmark indices in Tuesday’s trading session, with the Dow Jones Industrial Average falling 231.86 points, or 0.6%, while the S&P 500 and Nasdaq slipped 0.4% and 0.2%, respectively.
December Consumer Sector Report Could Provide Insights
Traders are eagerly awaiting the release of the December report on Wednesday, which could provide further insights into the health of the consumer sector. Expectations are for a rise of 0.4% in December, a slight increase from 0.3% in November. This report will be closely watched as it will give an indication of how consumer spending is faring, which is a crucial component of the US economy.
Earnings Season Continues with Results from Charles Schwab Corp, U.S. Bancorp, and Prologis Inc
The earnings season continues on Wednesday with several big companies reporting their quarterly results. Charles Schwab Corp, U.S. Bancorp, and Prologis Inc are among the companies set to release their earnings reports. This will give investors a clearer picture of how these companies performed in the final quarter of 2023 and could impact their stock prices.
Federal Reserve’s Job Openings and Labor Turnover Survey Due for Release
On Wednesday, the Federal Reserve will release its Job Openings and Labor Turnover Survey (JOLTS) for November. This survey provides valuable information on the health of the labor market and can impact monetary policy decisions. The JOLTS report measures the number of job openings, hires, and separations, and can give insights into the strength of the job market and the overall economy.
Major Benchmark Indices Decline as Fourth-Quarter Earnings Season Begins
Tuesday’s trading session saw major benchmark indices decline as the fourth-quarter earnings season kicked into gear. The Dow Jones Industrial Average, S&P 500, and Nasdaq all closed in the red. Investors were cautious as they awaited the results of companies in various sectors, which will provide insights into the overall health of the economy. It will be interesting to see how the earnings reports shape market sentiment and whether they will impact the trajectory of the indices going forward.
Overall, the US stock futures are trading mixed after a losing session on Tuesday. With the release of the December consumer sector report, earnings reports from major companies, and the Federal Reserve’s JOLTS report, there are several key events that could impact the stock market in the coming days. Investors will be closely watching these reports as they look for signs of strength or weakness in the economy and adjust their investment strategies accordingly.
Analyst comment
Positive news: “December Consumer Sector Report Could Provide Insights”
Neutral news: “Major Benchmark Indices Decline as Fourth-Quarter Earnings Season Begins”
As an analyst, I expect the market to experience volatility in the coming days due to the mixed trading of US stock futures and the decline in major benchmark indices. The release of the December consumer sector report, earnings reports from major companies, and the Federal Reserve’s JOLTS report will play a crucial role in shaping market sentiment and influencing investment strategies.