TSLA - US Stocks Set For Mixed Open Cryptos Slip As Bitcoin ETF Decision Day Arrives: Analyst Says S&P 500 Was 'Due For A Break' After Red-Hot 2023 Finish | Benzinga
The market mood may continue to be lackluster, with index futures indicating a mixed opening on Wednesday. The potential approval of a spot Bitcoin (CRYPTO: BTC) exchange-traded fund is the major event traders are likely anticipating, and a green light from the SEC could spark a rally in both crypto and crypto-linked stocks. However, traders might opt to remain on the sidelines ahead of Thursday’s inflation data, seeking confirmation of the downward trajectory in prices. Pre-announcements may flow in, impacting both individual stocks and entire sectors.
Cues From Tuesday's Trading:
U.S. stocks mostly closed lower on Tuesday as traders opted to stay on the sidelines in anticipation of the week’s inflation data. The upward bounce in bond yields also exerted downward pressure on equities. The Dow Industrials remained below the unchanged line for the entire session, and the S&P 500 also traded mostly in the red, although it finished off the session lows.
The tech-heavy Nasdaq Composite Index, despite a weak start, reduced its losses throughout the morning, staying mostly above the flat line in the afternoon before ending slightly higher.
Energy, real estate, utility, material, and financial stocks came under selling pressure on Tuesday.
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