Global Markets:
- Asian Stock Markets : Nikkei down 3.95%, Shanghai Composite down 0.98% Hang Seng down 0.31% ASX up 0.40%
- Commodities : Gold at $4,044.20 (-0.80%) Silver at $57.460 (-2.15%), Brent Oil at 84.94 (-1.07%), WTI Oil at 81.68 (-1.13%)
- Rates : US 10-year yield at 4.628, UK 10-year yield at 4.998, Germany 10-year yield at 3.1275
News & Data:
- (USD) Durable Goods Orders m/m 0.3% to 1.6% expected
Markets Update:
U.S. stock futures edged lower in early Asian trading on Tuesday as investors prepared for a crucial week featuring earnings from major technology companies and the Federal Reserve’s latest interest rate decision.
S&P 500 futures fell 0.1%, while Nasdaq 100 futures declined 0.5%. Dow Jones futures, however, rose 30 points, or 0.06%. Wall Street ended Monday with mixed results. The Dow gained more than 260 points, or about 0.5%, and the S&P 500 posted a modest increase after oil prices eased following a pause in Middle East tensions. Meanwhile, the Nasdaq Composite slipped 0.2% as weakness in semiconductor stocks pressured the technology sector.
Asian markets also traded lower, with South Korea’s Kospi dropping 5.93% at the open. Japan’s Nikkei 225 lost 0.65%, the Topix fell 0.63%, and Australia’s S&P/ASX 200 declined 0.38%.
Investors are focused on earnings reports from Amazon, Meta Platforms, Microsoft, and Apple, with expectations that continued spending on artificial intelligence infrastructure will support chip demand despite recent weakness in megacap technology stocks.
The Federal Reserve is expected to leave interest rates unchanged on Wednesday, though markets will closely watch policymakers’ guidance for future rate moves. Traders will also monitor U.S. consumer confidence data and quarterly results from Coca-Cola, UPS, Corning, and Boeing, while keeping an eye on oil prices and Treasury yields.
Upcoming Events:
- 2:00 PM GMT – USD CB Consumer Confidence
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