U.S. stocks are on track for a jittery start as traders brace for a few market-moving catalysts that will pan out over the next few sessions. The index futures were narrowly mixed in early trading. A couple of house price reading and the Conference Board’s consumer confidence data may provide some cues but traders may remain mostly on the sidelines to see off Nvidia Corp.’s (NASDAQ:NVDA) earnings and Friday’s inflation data.
Looking ahead to Nvidia’s earnings, fund manager Louis Navellier said, “There may be more downside from under-delivering good news, than upside from better than hoped for news, given the stock has a P/E in the 70’s.”
“Clearly, market momentum remains positive, with rate cuts the driver in the near term, and AI the longer-term driver,” he added.
Futures
Performance (+/-)
Nasdaq 100
+0.05%
S&P 500
-0.01%
Dow
-0.06%
R2K
-0.02%
In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) dipped 0.05% to $560.52, and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.01% to $475.38, according to Benzinga Pro data.
Cues From Last Session
Wall Street closed Monday’s session on a mixed note, with tech weakness weighing down on the Nasdaq Composite and the S&P 500 indices. The major averages all opened higher but fell sharply in early trading. While the Nasdaq Composite and the S&P 500 ...
