WOR - Nasdaq S&P 500 Set To Open Higher On Nvidia Prop FedEx Earnings But Traders Could Move To Sidelines Ahead Of Key Data: Analyst Says Underweighting Techs 'Contrarian Bet' | Benzinga
Futures trading reflects the same trend seen on Tuesday, with the Nasdaq and S&P 500 futures firming up in early trading, while the Dow futures slipped. Notwithstanding the tech strength, the underlying sentiment is likely to be one of caution ahead of some key market-moving economic catalysts scheduled for the next two sessions. The Nvidia Corp. (NASDAQ:NVDA) rally continues, with the stock firmer in premarket trading. It remains to be seen if the concentrated tech strength could be strong enough to lift the broader market.
The market could also receive a shot in the arm from FedEx Corp.’s (NYSE:FDX) positive earnings and M&A rumors.
The Federal Reserve’s favorite inflation gauge, more Fed speeches, consumer sentiment data and durables goods order are among the key reports due on Thursday and Friday. More importantly, traders may also focus on the presidential debate that is scheduled for late Thursday.
Futures Performance (+/-)
Nasdaq 100 +0.21%
S&P 500 +0.05%
Dow -0.14%
R2K -0.30%
Cues From Last Session:
The tech rally, spearheaded by Nvidia Corp. (NASDAQ:NVDA), imparted strength to the broader market on Tuesday, although weakness elsewhere dragged the Dow Jones Industrial Average lower. IT and communication services stocks launched into a strong rally and energy stocks saw modest strength ...