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Stock Index Futures Announce Tuesday Mixed Beginnings for Wall Street, as Investors Wait for the Start of a Two-Day Meeting of the US Federal Reserve and Digest Global Economic Data as well as an Outline of corporate results, including the disappointing results of the parent company of the Internet search giant.
What do the indexes do?
Futures on the Dow Jones Industrial Average
YMM9, -0.03%
increased by 62 points, or 0.2%, to 26,610, while futures contracts on the S & P 500 index
ESM9, -0.17%
added 0.60 point, or less than 0.1%, to 2 943.50. Future Nasdaq-100
NQM9, -0.22%
were down 14.50 points, or 0.2%, to 7799.75.
The S & P 500
SPX, -0.28%
and the Nasdaq compound
COMP -0.62%
each progressed slightly on Monday to post the records. That ensued on Friday after the record breaking and marked the first consecutive set of all-time highest records since August. The Dow
DJIA, -0.11%
also gained 11.06 points on Monday, ending about 1% below its closing record of 26,828.39 on October 3rd.
What motivates the market?
The Federal Reserve begins a policy meeting two days later on Tuesday. Policymakers should leave interest rates unchanged, but statements and remarks by Fed Chairman Jerome Powell will be closely monitored for clues about future central bank plans, after He had abruptly suspended his plan to increase rates in January to stop the liquidation of his balance sheet.
Lily: Powell faces a tough test Wednesday as the market is worried with its recent communication
A private indicator of factory activity in China weakened in April, but nevertheless posted an expansion, according to official data, which also showed slower growth. The Purchasing Managers' Index for the Caixin China manufacturing sector rose from 50.8 in March to 50.2 in April, above the level of 50, which indicates growth in activity. Previously, the official manufacturing PMI dropped to 50.1 in April from 50.5 in March.
In the same period, the euro area regained some momentum early in 2019, according to data released Tuesday, which showed that the combined gross domestic product of the 19-country region had increased by 1.5% annualized in the first quarter, rising from 0.9% in the last quarter of 2018.
Which companies are targeted?
This is another difficult day for the publication of the results.
Google Parent Actions Alphabet Inc.
GOOG, -7.78%
GOOGL, -7.68%
declined by more than 8% in pre-market trading after Monday's results showed a decline in revenue growth in the first quarter, with all major sales categories slightly underperforming.
Opinion: Google's sales growth is slowing down and it would be nice to know why.
Actions of General Electric Co.
GE, + 5.87%
Pre-market sales jumped more than 7% after surpassing earnings and first quarter earnings estimates for Wall Street.
McDonald's Corp.
MCD -0.74%
shares rose 1.8% pre-market after announcement of fast-food giant and 5.4% growth in Dow Component's global same-store sales, well above expectations analysts.
Merck & Co. Inc.
MRK, + 0.44%
equities rose 1.1% as the pharmaceutical company reported higher than expected earnings in the first quarter and raised its guidance for the year. Fellow of Dow and the pharmaceutical giant Pfizer Inc.
PFE, + 1.12%
also exceeded Wall Street's forecast for the first quarter, while raising its expectations. The action increased by 1% in pre-market.
Ely Lilly & Co.
THERE IS, -3.82%
Shares fell by 3.1% before the bell Tuesday, after the drug giant announced first-quarter results above expectations, but missing revenues.
Actions of ConocoPhillips
COP, + 1.68%
increased by 1.6% in pre-market action after the oil company posted earnings above expectations for the first quarter.
Lumber Forest Harvesters.
LL -0.08%
equities fell 5.2% before the bell, after the wood flooring retailer reported a first-quarter loss and lower-than-expected sales.
Apple Inc.
AAPL, -1.63%
is supposed to declare income after the closing bell.
Lily: Apple's profits: How much of its huge cash will go into the pockets of investors?
What's in the economic calendar?
The cost of employment index rose 0.7% in the first three months of the year, in line with economists' expectations, according to a MarketWatch survey. Compensation growth from one year to the next rose 2.8%, a decline from the annual rate recorded in the last three months of 2018.
The February Case-Shiller Housing Price Index showed growth slowed to a six-and-a-half year low, while the Chicago Region Purchasing Managers' Index for April should be published at 9:45.
At 10 am, investors will see a consumer confidence index for April, which should rise from 124.1 to 126.9 in March. An index of pending home sales for March is also due at the same time.
How are other markets traded?
Asian stock markets closed on a mixed note on Tuesday, with the Shanghai Composite Index
SHCOMP, + 0.52%
and the Shenzhen Composite Index
399,106, + 0.68%
both are rising, despite new data showing a slowdown in the Chinese manufacturing sector.
Hong Kong Hang Seng Index
HSI, -0.65%
meanwhile, dropped 0.7% while South Korea
SEU, -0.58%
also backed up the day. In Europe, stocks were generally lower, with the Stoxx Europe 600
SXXP, -0.26%
down 0.1%
The price of oil
CLM9, + 0.93%
climbed Tuesday, rising 1.4% to $ 64.38 per barrel. Gold price
GCM9, + 0.27%
also up, while the US dollar weakened slightly.
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