Tech News

Stock market today: Live updates


U.S. stock futures were little changed on Tuesday night as investors kept an eye on debt ceiling negotiations.

Futures linked to the Dow Jones Industrial Average ticked higher by 29 points, or 0.09%. S&P 500 futures added 0.1%, while Nasdaq 100 futures gained 0.12%.

All three major averages fell during the period regular trading Tuesday. the S&P 500 lost 1.12%, while the Nasdaq Composite and the Dow Jones Industrial Average decreased 1.26% and 0.69%, respectively.

Treasury Secretary Janet Yellen Lawmakers were forewarned that a potential default in early June is “very possible.” House Speaker Kevin McCarthy said he had a “productive” discussion with President Joe Biden on Monday. However, there were some signs of progress being made in the negotiations on Tuesday.

Even if Washington officials raise the debt ceiling, however, markets could be volatile, according to Bill Merz, head of capital markets research at US Bank Wealth Management. That’s because the Treasury needs to issue more debt to fill its general account, he said.

“The effect of this is likely to remove liquidity from the broader capital markets,” Merz said. “Especially recently, [that] actually overlaps with, or is correlated with, the S&P 500’s overall stock performance,” he continued.

“Especially recently, [that] actually overlaps with, or it correlates with, the S&P 500 in overall stock performance,” he continued.

On the economic front, investors will be keeping an eye on the minutes from the Federal Reserve meeting earlier in May. They will be released Wednesday afternoon.

Investors will also be watching for more earnings announcements on Wednesday. Clothing retailer American Eagle Outfitters and semiconductor producer Nvidia will post their results on Wednesday after the bell.

Source link


Leave a Reply

Your email address will not be published. Required fields are marked *