Market information appears on a monitor as traders work on the trading floor of the New York Stock Exchange on April 4, 2024.
Andrew Kelly | Reuters
U.S. stock futures were higher on Tuesday night after the S&P 500 posted a third straight day of losses.
Futures linked to the S&P 500 Index rose 0.1%, while Nasdaq 100 Index Futures rose 0.15%. Dow Jones Industrial Average Futures It rose 62 points, or 0.16%.
During extended trading hours, United Airlines The company’s shares rose 5% after reporting a smaller-than-expected loss and better-than-expected revenue. Hunter Transportation Services Johor Bahru Revenue and profit fell short of analysts’ expectations, and the stock price fell 5%.
this Dow Chemical It closed up 0.17% on Tuesday, breaking a six-day losing streak.The index moves higher UnitedHealthThe company’s shares rose more than 5% after first-quarter revenue and net profit both beat expectations.
this S&P 500 Index fell 0.21%, while Nasdaq Index down 0.12%. This is the third day in a row that both averages have fallen.
Prior to this, Fed Chairman Powell said that the Fed needs to make more progress on inflation before it may start cutting interest rates. Ross Mayfield, an analyst at Baird Investment Strategies, said the comments did little to temper the market’s pessimism.
“The main headwind is the expected hawkish repricing by the Fed. I don’t think Fed Chairman Powell did much today to ease those concerns, perhaps on purpose,” he told CNBC. “The market is questioning whether there will be a rate cut in 2024.”
Mayfield believes that stock market trading will mostly be range-bound in the short term, with the exception if any geopolitical events cause oil prices to surge further.
U.S. Bank and traveler It is scheduled to report its earnings before the bell on Wednesday.
About The Author
