{"id":126992,"date":"2022-05-03T13:30:06","date_gmt":"2022-05-03T13:30:06","guid":{"rendered":"https:\/\/fin2me.com\/?p=126992"},"modified":"2022-05-03T13:30:06","modified_gmt":"2022-05-03T13:30:06","slug":"futures-pointing-to-initial-pullback-on-wall-street","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/futures-pointing-to-initial-pullback-on-wall-street\/","title":{"rendered":"Futures Pointing To Initial Pullback On Wall Street"},"content":{"rendered":"

Following the significant rebound seen over the course of the previous session, stocks are likely to move back to the downside in early trading on Tuesday. The major index futures are currently pointing to a lower open for the markets<\/span>, with the Dow futures down by 142 points.<\/p>\n

Traders may look to cash on yesterday’s turnaround amid lingering concerns about the outlook for the global economy<\/span>.<\/p>\n

Elevated inflation, Covid-19 lockdowns in China and the ongoing war in Ukraine continue to weigh on investors’ minds as they digest the latest earnings news.<\/p>\n

On the U.S. economic front, a report released by the Commerce Department showed new orders for U.S. manufactured durable goods rebounded in the month of March.<\/p>\n

The report showed durable goods orders climbed by 0.8 percent in March after tumbling by a revised 1.7 percent in February.<\/p>\n

Economists had expected durable goods orders to jump by 1.0 percent compared to the 2.2 percent slump originally reported for the previous month.<\/p>\n

Excluding orders for transportation equipment, durable goods orders surged by 1.1 percent in March after falling by 0.5 percent in February. Ex-transportation orders were expected to increase by 0.6 percent.<\/p>\n

Shortly after the start of trading, the Conference Board is scheduled to release its report on consumer confidence in the month of April. The consumer confidence index is expected to dip to 106.8 in April from 107.2 in March.<\/p>\n

The Commerce Department is also due to release its report on new home sales in the month of March. New home sales are expected to decrease by 0.9 percent to an annual rate of 765,000 in March after slumping by 2.0 percent to a rate of 772,000 in February.<\/p>\n

After coming under pressure early in the session, stocks showed a substantial turnaround over the course of the trading day on Monday. The major averages bounced well off their early lows and ended the day significantly higher.<\/p>\n

The major averages saw further upside going into the close, ending the session near their best levels of the day. The Dow climbed 238.06 points or 0.7 percent to 34,04946, the Nasdaq jumped 165.60 points or 1.3 percent to 13,004.85 and the S&P 500 rose 24.34 points or 0.6 percent to 4,296.12.<\/p>\n

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Tuesday. Japan’s Nikkei 225 Index rose by 0.4 percent, while China’s Shanghai Composite Index tumbled by 1.4 percent.<\/p>\n

Meanwhile, the major European markets have all moved to the upside on the day. While the German DAX Index has jumped by 1.2 percent, the U.K.’s FTSE 100 Index is up by 1 percent and the French CAC 40 Index is up by 0.9 percent.<\/p>\n

In commodities trading, crude oil futures are surging $1.35 to $99.89 a barrel after plunging $3.53 to $98.54 a barrel on Monday. Meanwhile, after tumbling $38.30 to $1,896 an ounce in the previous session, gold futures are rising $5.90 to $1,901.90 an ounce.<\/p>\n

On the currency front, the U.S. dollar is trading at 127.40 yen compared to the 128.14 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.0672 compared to yesterday’s $1.0713. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Following the significant rebound seen over the course of the previous session, stocks are likely to move back to the downside in early trading on […]<\/p>\n","protected":false},"author":3,"featured_media":126991,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nFutures Pointing To Initial Pullback On Wall Street - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/futures-pointing-to-initial-pullback-on-wall-street\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Futures Pointing To Initial Pullback On Wall Street - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Following the significant rebound seen over the course of the previous session, stocks are likely to move back to the downside in early trading on [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/futures-pointing-to-initial-pullback-on-wall-street\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-03T13:30:06+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2022\/05\/Futures-Pointing-To-Initial-Pullback-On-Wall-Street-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/futures-pointing-to-initial-pullback-on-wall-street\/\",\"url\":\"https:\/\/fin2me.com\/business\/futures-pointing-to-initial-pullback-on-wall-street\/\",\"name\":\"Futures Pointing To Initial Pullback On Wall Street - 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