U.S. stock futures were trading flat on Tuesday morning following a strong market performance in the previous day. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.07%, 0.06%, and 0.11%, respectively, at 3:41 a.m. EST, November 26.
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On Monday, the Dow Jones hit an all-time high and closed 0.99% higher. Also, the S&P 500 and the Nasdaq Composite gained 0.3% and 0.27%, respectively. The market rally was primarily driven by optimism about the nomination of Scott Bessent as Treasury Secretary, as investors are hopeful that his appointment will lead to more market-friendly policies.
In major after-market action, Kohl’s (KSS) stock dropped 4.6% after its CEO Tom Kingsbury announced plans to step down from his position. Also, Zoom Video Communications (ZM) shares were down 5.5% despite reporting better-than-expected third-quarter results.
On the economic front, investors are looking forward to the release of the Federal Reserve’s latest policy meeting minutes for insights on the economy’s health and potential clues about the future path of interest rate cuts. Further, U.S. New Home Sales and Consumer Confidence data points will be made public today.
Additionally, several major companies, including CrowdStrike (CRWD), Workday (WDAY), Macy’s (M), Autodesk (ADSK), Best Buy (BBY), HP Inc. (HPQ), and Dell Technologies (DELL), are scheduled to release their quarterly earnings reports today.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.295% at the time of writing. At the same time, WTI crude oil futures are trending higher, hovering near $69.13 per barrel as of the last check.
Elsewhere, European indices opened lower on Tuesday morning as investors evaluated the potential global impact of U.S. President-elect Donald Trump’s proposed tariff hikes on China, Mexico, and Canada.
Asia-Pacific Markets Traded Lower on Tuesday
Most of the Asia-Pacific indices were in the red today as traders weighed the potential impact of an additional 10% tariff on all Chinese imports, which Trump plans to impose.
China’s Shenzhen Component and Shanghai Composite indices were down by 0.12% and 0.84%, respectively. Also, Japan’s Nikkei and Topix indices closed lower by 0.87% and 0.96%, respectively. However, Hong Kong’s Hang Seng index gained 0.04%.
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