Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

US pre-open: Futures lower following yesterday's rally

(Sharecast News) - Wall Street futures were in the red ahead of the bell on Tuesday following solid gains in the previous session. As of 1215 GMT, Dow Jones futures were down 0.48%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.49% and 0.66% lower, respectively.

The Dow closed 216.90 points higher on Monday as investors bought the dip following last week's mega-cap tech selloff.

Comments from Federal Reserve governor Michelle Bowman were in focus early on Tuesday after she said the central bank's interest rate hikes were likely over with but also warned that she was not ready to begin trimming just yet. Bowman highlighted the Fed's progress on reining in inflation through tight policy and said: "Based on this progress, my view has evolved to consider the possibility that the rate of inflation could decline further with the policy rate held at the current level for some time."

Also drawing an amount of investor attention, US politicians struck a 2024 spending deal on Monday, seemingly avoiding a government shutdown and pulling the yield on the benchmark ten-year Treasury note back over the 4% line.

On the macro front, the National Federation of Independent Business' small business optimism index hit 91.9 in December, its highest reading in five months, compared to 90.6 in November and beating consensus expectations for a reading of 90.7. However, 23% of small business owners said inflation was still their single most important problem in operating their business, up one point from the prior month.

Still to come, November goods trade balance figures will be out at 1330 GMT, while Federal Reserve vice chairman for supervision Michael Barr will deliver a speech at 1700 GMT.

No major corporate earnings were slated for release on Tuesday.

Reporting by Iain Gilbert at Sharecast.com

Share this article

Related Sharecast Articles

Directors deals: Ashtead Technology finance director adds to holdings
(Sharecast News) - Ashtead Technology's finance director sold some shares to cover her obligations with HMRC after exercising options under the company's incentive plan.
Broker tips: DS Smith, Man Group
(Sharecast News) - Numis downgraded its stance on packaging group DS Smith on Friday to 'hold' from 'buy' as it said there was insufficient upside to retain a buy rating.
FTSE 250 movers: Miners benefit from Israel attack on Iran; Man Group disappoints
(Sharecast News) - FTSE 250 (MCX) 19,323.96 -0.65%
FTSE 100 movers: Mondi, retailers under the cosh
(Sharecast News) - London's FTSE 100 was down 0.5% at 7,840.05 in afternoon trade on Friday.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.