VZ - US Stocks Prepare For Nervy Start Ahead of Netflix TI Earnings: Analyst Says Cash Waiting On Sidelines Could Flood Street If This Happens | Benzinga
The mood turned circumspect on Tuesday as traders digested a deluge of earnings reports and anticipated market-moving economic data for the week. Earnings releases from 3M Company (NYSE:MMM) and General Electric Co. (NYSE:GE) led to a pullback in their stocks during premarket trading. Meanwhile, shares of consumer and personal products company Procter & Gamble (NYSE:PG) rose in response to its earnings.
The focus now shifts to after-hours trading when streaming giant Netflix, Inc. (NASDAQ:NFLX) and semiconductor company Texas Instruments, Inc. (NASDAQ:TXN) are set to report. On the economic front, Tuesday represents a lull before a slew of key data, including the Fed’s favorite inflation gauge, begins to roll in.
Cues From Monday's Trading:
U.S. stocks closed higher for a third consecutive session on Monday, with small-caps leading the charge. Although the major averages opened higher, the strength of the rally waned after a report revealed that the Conference Board’s leading economic index fell once again in December. Despite this, the indices showcased resilience, remaining above the unchanged line throughout the session, albeit closing off the highs.
The S&P 500 and the 30-stock Dow Industrial average concluded at fresh all-time highs, while the tech-heavy Nasdaq Composite reached a two-year high. Notably, the Nasdaq 100 Index, consisting of the largest non-financial tech stocks, also achieved record territory.
Among S&P 500 sector indices, buying interest, albeit subdued, was nearly broad-based, with only consumer and utility stocks losing ground.