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US stocks are expected to open lower on Tuesday as investors have digested the lower-than-expected earnings of Home Depot Inc. more information on the central bank's more accommodative stance on monetary policy.
How did the stock indices perform?
Futures for the Dow Jones Industrial Average
YMH9, -0.51%
down 81 points, or 0.3%, to 26,018, those in the S & P 500 index
ESH9, -0.27%
were 4.6 points, or 0.2%, lower than 2792.75. Meanwhile, Nasdaq-100 futures
NQH9, -0.45%
decreased by 19 points, or 0.3%, to 7,106.50.
Monday, the Dow
DJIA, + 0.23%
increased by 60.14 points, or 0.2%, to 26,091.95. The S & P 500 index
SPX, + 0.12%
gained 3.44 points, or 0.1%, at 2,796.11, at one point, trading above 2,800 for the first time since November 8 on an intraday basis. The Nasdaq composite index
COMP + 0.36%
added 26.92 points, or 0.4%, to 7 554.46. The three main landmarks ended up far from their peaks.
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What is the engine of the market?
Powell will travel to Capitol Hill for two days of hearing this week, during which he is expected to face new questions about the health of the national and global economy. He will testify before the Senate Banking Committee later Tuesday and will appear before the House Financial Services Committee on Wednesday.
The Fed's boss is expected to be the main attraction for investors on Tuesday, as investors have focused in recent weeks on two main issues: Fed policy and a Sino-US relationship. commercial confrontation.
Powell 's testimony, due to start at 9:45 am (Eastern time), comes after the central bank has turned around, indicating its intention to adopt a wait – and – see approach to raising interest rates. Interest after making four times 2018 and a reduction of hundreds of billions of dollars in its balance sheet, two movements that have aroused the resistance of market players who feared that these measures will harden the financial conditions. In addition, Powell & Co. has prompted strong criticism from President Donald Trump about political methods considered aggressive.
Legislators should seek to better understand the state of US economic expansion and the Fed's policy strategy.
The testimonials come as investors focused on Sino-US trade developments, after Trump said in recent days that he was willing to extend the deadline of March 2 to raise tariffs on some 200 billion dollars of Chinese goods.
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What data are being developed?
Investors will have a late glimpse into the state of the housing market as the Commerce Department publishes its estimates of the number of new home construction projects launched in December, as well as the number of permits issued for new housing construction. 8:30
At 9 o'clock, the housing price index Case-Shiller will be released.
The Conference Board will offer a snapshot of the US consumer when it will release its consumer confidence index at 10 am.
January data on new home sales, which were originally scheduled to be released on Tuesday, will be delayed due to the lingering effects of the government shutdown.
What do analysts say?
"The stocks made some of yesterday's gains as optimism about US-China trade relations faded. It was a welcome relief that the United States will not impose higher tariffs on Chinese imports in March, but trade is far from over, and investors are wondering Where are we going now? CMC Markets UK, research note Tuesday.
What stocks are under discussion?
Actions of Home Depot
HIGH DEFINITION, -1.25%
before commercialization after the home improvement giant published quarterly results below consensus expectations. The stock is down 2.6% before the bell Tuesday.
Tesla Inc.Stock of
TSLA, + 1.38%
Elon Musk, the CEO of the electric car brand, has found himself in conflict with the Securities and Exchange Commission during his recent tweets. The SEC on Monday urged a federal judge to try Musk in defiance of a recent message posted on social media. Tesla shares are down 3.3% in pre-market trading.
Actions of J. M. Smucker Co.
LSU, -0.35%
7% in the trade before marketing, after the brand-name food company announced third-quarter fiscal results and sales exceeded expectations.
AutoZone Inc.
AZO -2.42%
stocks were up 7.6% ahead of the bell on Tuesday, after the auto parts retailer reported second-quarter financial results better than Wall Street forecasts.
How are other markets traded?
Asian markets closed on Tuesday mainly down – Japan's Nikkei 225
NIK -0.37%
0.4%, while Hong Kong's Hang Seng index
HSI, -0.65%
paid 0.7%. Meanwhile, the Shanghai Composite Index
SHCOMP, -0.67%
lost 0.7% on the day.
European stocks also retreat on Tuesday with the Stoxx Europe 600
SXXP, -0.11%
down 0.1%.
In raw materials, oil prices
GCJ9, -0.01%
were trading higher as the price of gold fell slightly as the US dollar weakened, losing 0.1% on Tuesday.
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