This comes as billions of dollars worth of projects get held up as the federal government shutdown drags into its third week, with U.S. Treasury Secretary Scott Bessent warning last week that it has now begun impacting the economy and people’s lives.
Investors on Tuesday will be closely watching the earnings of several major companies, such as Netflix Inc. (NASDAQ:NFLX), Coca-Cola Co. (NYSE:KO), Philip Morris International Inc. (NYSE:PM) and RTX Corp. (NYSE:RTX), among several others, to set the tone for the rest of this week.
See Also: 5 Stocks To Buy From Overlooked Markets
Meanwhile, the 10-year Treasury bond yielded 3.97% and the two-year bond was at 3.45%. The CME Group’s FedWatch tool‘s projections show markets pricing a 98.9% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
Futures
Change (+/-)
Dow Jones
-0.19%
S&P 500
-0.13%
Nasdaq 100
-0.16%
Russell 2000
-0.27%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, are down in premarket on Tuesday. The SPY is down 0.07% at $670.79, while the QQQ is down 0.36%, trading at $611.18, according to Benzinga Pro data.
Stocks In Focus
Netflix
Netflix Inc. (NASDAQ:NFLX) shares are up 0.27% pre-market, with the company expected to release its third quarter results after markets close on Tuesday.
According to Benzinga’s Edge Stock Rankings, Netflix shares score high on Momentum, Growth and Quality, with a favorable price trend in the short, medium and long terms. Click here for more details on the stock.
GE Aerospace
Shares of GE Aerospace (NYSE:GE) are up 0.43% pre-market, ahead of the company’s third-quarter results on Tuesday, before markets open.
GE shares score high in Benzinga’s Edge Stock Rankings, with a favorable price trend in the short, medium and long terms. Click here for deeper insights into the stock, its finances and operations.
