ZS - Nasdaq S&P 500 Futures Flatline As Traders Play Waiting Game Ahead Of Key Data | Benzinga
Trading in stock futures suggests sentiment could remain guarded yet again on Tuesday as traders gear up to receive data on consumer confidence and house prices and a slew of Fed speeches. With oil rebounding ahead of the November 30 OPEC+ meeting, the energy space could see some sparkle. The cautious mood reflected traders’ wariness about the recent market run-up even as they look ahead to the Federal Reserve’s preferred inflation gauge due on Thursday and speeches by Fed Chair Jerome Powell later this week.
As the market enters a seasonally strong period, especially with the Fed pivot not far away, the trajectory in the near term could be firm to the upside.
Cues From Monday’s Trading:
The major averages were lackluster on Monday before closing slightly lower, as traders chose to remain cautious following the recent market run-up. After a positive open, the Nasdaq Composite stayed mostly above the unchanged line before moving decisively lower in the final few minutes of trading.
The Dow Industrials and the S&P 500 were in the red for the bulk of the session en route to a modestly lower close.
Some degree of profit-taking was expected coming into Monday’s session as the major averages had recorded their fourth straight week of gains and were perched either at or just shy of their four-month highs
Most S&P 500 sector classes moved lower for the session, with industrial, healthcare, energy, and communication services stocks seeing moderate losses.
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