Futures Pointing To Roughly Flat Open On Wall Street
30 Abril 2024 - 10:07AM
IH Market News
The major U.S. index futures are currently pointing to roughly
flat open on Tuesday, with stocks likely to show a lack of
direction after ending yesterday’s lackluster session modestly
higher.
Traders may remain reluctant to make significant moves ahead of
the Federal Reserve’s monetary policy announcement on
Wednesday.
The Fed is widely expected to leave interest rates unchanged,
but the accompanying statement and Fed Chair Jerome Powell’s
post-meeting press conference may shed additional light on the
outlook for rates.
Recent economic data has tamped down expectations of a near-term
rate cut, with the central bank now seen as likely to leave rates
unchanged until at least September.
Among individual stocks, shares of Eli Lilly (NYSE:LLY) are
moving sharply higher in pre-market trading after the drugmaker
reported better than expected first quarter earnings and raised its
full-year guidance.
Industrial conglomerate 3M (NYSE:MMM) is also seeing significant
pre-market strength after reporting first quarter results that beat
expectations on both the top and bottom lines.
On the other hand, shares of McDonald’s (NYSE:MCD) may move to
the downside after the fast food giant reported first quarter
earnings that missed analyst estimates.
Beverage giant Coca-Cola (NYSE:KO) is also seeing modest
pre-market weakness despite reporting better than expected first
quarter results.
Following the strong upward move seen last week, stocks managed
to see further upside during trading on Monday. The major averages
fluctuated over the course of the session but ended the day in
positive territory.
The Dow rose 146.43 points or 0.4 percent to38389.09, the Nasdaq
climbed 55.18 points or 0.4 percent to 15983.08 and the S&P 500
advanced 16.21 points or 0.3 percent to 5,116.17.
The modestly higher close on Wall Street came as stocks continue
to benefit from the upward momentum seen last week, which came amid
a positive reaction to upbeat tech earnings.
Shares of Tesla (NASDAQ:TSLA) skyrocketed by 15.3 percent after
the electric vehicle maker said local Chinese authorities removed
restrictions on its cars,
Overall trading activity was somewhat subdued, however, as
traders look ahead to the Federal Reserve’s monetary policy
announcement on Wednesday.
Traders may also have been sticking to the sidelines ahead of
the release of an avalanche of earnings news this week along with
the Labor Department’s closely watched monthly jobs report.
Tobacco stocks showed a significant move to the upside on the
day, driving the NYSE Arca Tobacco Index up by 1.5 percent.
Considerable strength was also visible among utilities stocks,
as reflected by the 1.4 percent gain posted by the Dow Jones
Utilities average
Biotechnology, telecom and commercial real estate stocks also
saw notable strength, while most of the other major sectors showed
only modest moves.
3M (NYSE:MMM)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
3M (NYSE:MMM)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024