The market outlook remains uncertain, with stock index futures indicating a modestly lower opening on Tuesday. Apple Inc. (NASDAQ:AAPL) may offer support to the tech sector, but Oracle Corp.’s (NYSE:ORCL) negative guidance weighs on sentiment. Traders are expected to be cautious ahead of the August consumer price inflation report, which holds significance for the data-dependent Federal Reserve, set to discuss monetary policy next week.
Cues From Monday’s Trading:
Fueled by strength in the tech sector, major indices closed higher on Monday. The session started with significant gains, driven by strong performances from heavyweights like Tesla, Inc. (NASDAQ:TSLA). Although optimism waned during the day, indices remained above the break-even point.
The positive sentiment was partly attributed to the New York Fed’s inflation expectations, which showed a 0.1 percentage point increase in the one-year reading to 3.6%. Measures of longer-term inflation suggested a slowdown.
The Nasdaq Composite and S&P 500 recorded consecutive gains, while the Dow Industrials Average notched its third consecutive session of gains.
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