Dow Jones futures fell slightly overnight, along with S&P 500 futures and Nasdaq futures. Stocks closed mixed on Tuesday, but techs led a strong recovery even as recession fears dragged down Treasury yields and commodity prices.
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While the S&P 500 eked out a small gain, the Dow Jones ended lower, but well, lower. The Nasdaq had a strong advance with aggressive growth names such as Roblox (RBLX) and Datalog (the dog) rebounding above their 50-day lines. Apple (AAPL), Amazon.com (AMZN) and Google Parents letters (Google) a key short-term position is restored.
Meanwhile, crude oil prices fell below $100 a barrel. Gasoline, copper and wheat futures fell sharply, extending significant losses over the past few weeks.
The Treasury yield curve has inverted between the two-year and 10-year benchmarks, a significant bearish signal. Markets still see intense Federal Reserve tightening in the next two meetings, but expect rate hikes to end the year.
Dollar Tree (DLTR), Halozyme treatment (Halo) and PRVA shares showed bullish action on Tuesday. Meanwhile, Northrop Grumman (NOC) and United Health (UNH) fell but found key support.
NOC Stock and UnitedHealth are active IBD Leaderboard. DLTR share is active Swing Trader. Google stock is active IBD long-term leaders. UNH has a role IBD 50. Privya Health (First) was on Tuesday IBD stock of the day.
A video embedded in this article analyzed Tuesday’s interesting market action and shares of Dollar Tree, Halozyme Therapeutics and DDOG.
Dow Jones Futures Today
Dow Jones futures fell 0.3%. fair value. S&P 500 futures were down 0.3% and Nasdaq 100 futures were down 0.2%.
U.S. crude futures rose more than 1%, once again above $100 a barrel.
The 10-year Treasury yield rose 2 basis points to 2.83%. The two-year yield rose 1 basis point to 2.83%, with the yield curve ever so slightly inverted.
Remember that it is an overnight operation Dow futures The next routine elsewhere doesn’t necessarily translate into actual trading stock market …….
