Login
Sign Up

Wall Street Futures Show Weakness As Investors Look To Lock In Gains After Strong Post-Election Rally: 'Bull Market Sentiment Remains Intact,' Says Wharton Economist

U.S. stocks could open on a negative note on Tuesday after the averages scaled record highs last week. Futures of all three major indices were slightly down on Tuesday, pointing to a cautious sentiment on Wall Street.

The three major indices surged over 4% last week after the GOP sweep and the Federal Reserve delivered a widely expected 25 basis point rate cut. Investors could be looking to book profits in the meantime even as experts say there's gas left in the current equity bull run.

Futures

Performance (+/-)

Nasdaq 100

-0.35%

S&P 500

-0.29%

Dow Jones

-0.19%

R2K

-0.80%

In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.23% to $597.41 and the Invesco QQQ ETF (NASDAQ:QQQ) declined 0.28% to $512.40, according to Benzinga Pro data.

Cues From Last Session:

The Dow Jones scaled the 44,000 mark on Monday for the first time, closing the day up by over 300 points to end the day at 44,293.13.

Crude oil prices remained under the $70 mark as the risk of Hurricane Rafael receded, providing relief.

Treasury yields continued to rise, signaling concerns that the next administration might struggle with fiscal discipline.

Most sectors on the S&P 500 closed on a positive note, with consumer discretionary, financials, and industrials stocks recording the biggest gains on Monday.

However, information technology and real estate stocks bucked the overall ...