WYNN - Wall Street Stutters After Disney Palantir Earnings Frustrate: Apple Event Hawkish Fed Speech In Focus While Analyst Insists 'Bull Market Is Back' | Benzinga
The recent market recovery shows signs of a slight falter. Index futures indicate a mixed open on Tuesday. Negative reactions to earnings from AI-linked company Palantir Technologies (NYSE:PLTR) could weigh on the tech sector. Surprisingly, Walt Disney Co. (NYSE:DIS) shares fell sharply pre-market despite reporting a profit and its direct-to-consumer business turning a profit for the first time.
Traders may also focus on a speech by a hawkish Federal Reserve official scheduled for midday. Bond yields and the March consumer credit report could also be in the spotlight.
Futures Performance (+/-)
Nasdaq 100 -0.14%
S&P 500 +0.05%
Dow +0.13%
R2K +0.10%
In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) climbed 0.06% to $516.86, and the Invesco QQQ ETF (NASDAQ:QQQ) slipped 0.12% to $439.70, according to Benzinga Pro data.
Cues From Previous Session:
The positive catalysts driving the market last week continued on Monday, pushing stocks higher. Fed Chair Jerome Powell‘s dismissal of rate hikes, the “Goldilocks” job numbers, and positive earnings reports further lowered bond yields, leading to improved risk appetite.
The major averages opened higher and traded sideways, with buying accelerating in late trading. The Dow Industrials rose for a fourth session, while the Nasdaq Composite and S&P 500 advanced for three straight days, all three reaching one-month highs. Information technology, consumer discretionary, and communication services stocks led the gains, with all sectors except real estate advancing.
Index
Performance (+/-)
Value
Nasdaq Composite +1.19% 16,349.25
S&P 500 Index +1.03% 5,180.74
Dow Industrials +0.46% 38,852.27
Russell 2000 +1.23% 2,060.67
Insights From Analysts:
Fund manager Louis Navellier said in a note that the “bull market is back.” Outlining the ...