TSLA - Nasdaq S&P 500 Futures Surge Amid Risk-On Mood; Bitcoin Gold Rally — Analyst Says 'Hard To Fight This Powerful Trend' | Benzinga
After Monday’s lackluster performance, stocks are poised to resume their rally, with futures indicating a higher opening for Tuesday’s session. Traders are optimistic about further gains ahead, showing little caution amidst expectations for another stellar corporate reporting season and hopes of the Fed embarking on rate-cutting. Fund manager Louis Navellier remarked, “If history repeats, the stock market should rally right up to the November Presidential election.”
A consumer confidence reading and the durable goods orders report, scheduled for the day, could provide clues about the near-term trajectory of the economy.
Review of Previous Session:
Stocks moved sluggishly on Monday, extending the subdued trend from Friday when the Fed-inspired rally stalled. The major indices opened lower and followed divergent paths. The Dow Industrial Average and the S&P 500 Index remained in negative territory throughout the session, ending lower.
On the other hand, the Nasdaq Composite initially shrugged off a negative start and maintained gains for most of the session before retreating in a late-session sell-off. Small-cap stocks, however, stood out and finished the session firmly in positive territory.
While most S&P sectors closed lower for the day, the energy and utility sectors resisted the downtrend. Material stocks ended the day relatively unchanged.
Index Performance (+/-) Value
Nasdaq Composite -0.27% 16,384.47
S&P 500 Index 0.31% 5,218.19
Dow ...