URBN - Nasdaq S&P 500 Futures Slip Ahead Of AI Bellwether Nvidia's Earnings: Analyst Says Stocks Do Particularly Well In December Of Pre-Election Year | Benzinga
Monday’s strong rally might push traders to the defensive, especially ahead of AI bellwether Nvidia Corp.’s (NASDAQ:NVDA) quarterly results due after the market close. Stock futures point to a modestly lower open on Tuesday. Analysts have begun cautioning of a pause after the month-to-date gains, but the unanimous opinion is that the seasonal rally will lift the market going into the year-end.
Traders will likely keep a close eye on the minutes of the December Fed meeting and the bond yields.
Cues From Tuesday's Trading:
U.S. stocks settled solidly higher on Monday, with technology stocks leading from the front. Traders shed away some of their apprehensions that were evident in the second half of the past week as they begin to factor in a pivot by the Federal Reserve and a soft-landing scenario. Oil’s rally perked up, buying interest in energy stocks.
The averages opened mixed, and after a short bout of volatility in early trading, they advanced steadily through the session to end firmer,
The Nasdaq Composite and the S&P 500 indices were higher for a fifth straight session, with indices ending at their highest levels in over 3-1/2 months. The 30-stock Dow Industrials ended at its highest since August 14.
US Index Performance On Tuesday
Index Performance (+/-) Value
Nasdaq Composite +1.13% 14,284.53
S&P 500 Index +0.74% 4,547.38
Dow Industrials +0.58% 35,151.04
Russell 2000 +0.52% 1,807.08
Analyst Color:
The run-up seen in the recent uptrend ...