U.S. stock futures slipped early Tuesday following a strong tech-led rally on Monday. Traders began the short trading week with positive momentum amid expectations of another interest rate cut in December. Markets will be closed on Thursday for Thanksgiving and will close early at 1 p.m. ET on Friday.
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Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.19%, 0.10%, and 0.13%, respectively, at 3:24 a.m. EST on November 25.
During Monday’s regular trading session, the three major indexes closed with notable gains. The S&P 500 climbed 1.55%, while the Nasdaq surged 2.69%, its strongest session since May 12, as major technology stocks rebounded from a challenging month. The Dow also closed higher, gaining around 203 points, or 0.44%.
Despite these gains, all three indexes are set to close November in negative territory, driven largely by a sustained sell-off in artificial intelligence (AI) stocks amid potential bubble concerns.
In the meantime, traders remain focused on factors that could influence the Federal Reserve’s monetary policy decision. Turning to economic reports, October’s U.S. retail sales and the Producer Price Index (PPI) readings are scheduled for release today.
On the earnings front, several major companies are due to report their results today, including Alibaba Group (BABA), Nio Inc. (NIO), Analog Devices (ADI), NetApp Inc. (NTAP), HP Inc. (HPQ), and Dell Technologies (DELL).
Notably, the U.S. 10-year Treasury yield was up, floating near 4.04%. WTI crude oil futures were trending lower, hovering near $58.56 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price increased to nearly $4,134 per ounce on Tuesday.
Elsewhere, in Europe, markets opened mostly lower on Tuesday, shrugging off Wall Street’s gains.
Asia-Pacific Markets Traded Higher
Asia-Pacific markets traded mostly higher on Tuesday following the technology-led rebound in the U.S.
Hong Kong’s Hang Seng Index climbed 0.75%. In China, the Shanghai Composite gained 0.87%, while the Shenzhen Component advanced 1.44%. Meanwhile, Japan’s Nikkei rose 0.07%, while the Topix slipped 0.21%.
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