WDFC - US Stock Futures Flatline On Inflation Data Worries; Bond Yields Slip While Gold And Oil Surge: Analyst Says 'Momentum Is Still There' For Bull Run | Benzinga
Traders are bracing for a lackluster Tuesday, going by weak stock futures, as they navigate conflicting signals. Though lower bond yields could be encouraging, rising commodity prices may dampen sentiment ahead of Wednesday’s crucial inflation report.
Analysts remain optimistic about corporate profits despite the market’s sideways movement. LPL Financial‘s Jeffrey Buchbinder predicts a 3-4% upside to current estimates, potentially pushing S&P 500 earnings growth to about 6% for the quarter. He attributes this growth to strong economic momentum and AI investment.
Futures Performance On Tuesday ( as of 6:30 a.m. EDT)
Futures Performance (+/-)
Nasdaq 100 -0.08%
S&P 500 -0.02%
Dow -0.05%
R2K -0.05%
In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) edged down 0.05% to $518.45, and the Invesco QQQ ETF (NASDAQ:QQQ) slipped 0.09% to $440.21 according to Benzinga Pro data.
Cues From Previous Session:
U.S. stocks went about in a lackluster fashion on Monday before closing mixed as elevated bond yields kept traders nervy about interest rates. While the tech-heavy Nasdaq Composite ended marginally higher, the broader S&P 500 Index and the 30-stock blue-chip average, the Dow Jones Industrial Average, settled marginally lower for the session.
Small-caps ...