| Futures | Performance (+/-) |
| Nasdaq 100 | +0.39% |
| S&P 500 | +0.17% |
| Dow | +0.03% |
| R2K | +0.46% |
Cues From Last Session:
U.S. stocks closed narrowly mixed as traders digested a batch of mixed economic data as well as a flurry of earnings. After opening higher, the major indices experienced some volatility in the morning, although holding mostly above the unchanged line.
Stocks gave back most of their gains in late afternoon trading before finishing on a mixed note.
The Dow Industrials closed at fresh intraday and closing highs, thanks to a positive reaction to Travelers Companies, Inc.’s (NYSE:TRV) earnings, while the S&P 500 Index hit an intraday high before squandering all the gains and closing marginally lower.
Insights From Analysts:
The economist expects the Hurricanes that devastated swathes of the Southeast in late September and early October to be a big drag on releases for October. This will make it difficult to read the underlying trend accurately, he said.
Calling the headwinds temporary, Adams said, “With the Fed expected to continue lowering interest rates through the turn of the year, credit-sensitive sectors of the economy should perk up in coming quarters, sustaining the economic expansion into 2025.”
See Also: Best Futures Trading Strategies in 2024
Upcoming Economic Data:
Stocks In Focus:
Commodities, Bonds And Global Equity Markets:
Crude oil futures pulled back modestly but gold futures gained ground as they scaled a fresh record. Bitcoin (CRYPTO: BTC) added over 1.50% over the past 24 hours and traded just under the $68K mark.
The 10-year U.S. Treasury note yield was little changed at 4.097%.
Asian stocks closed mostly higher, led by China and Hong Kong, which rallied on the back of the Chinese third-quarter GDP data. The Japanese market benefited from the yen’s weakness. The European Central Bank’s rate cut also buoyed sentiment.
The European markets also advanced in early trading, although the U.K. market was experiencing some weakness.
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