The US authorities filed a lawsuit against Facebook - what are the implications?
American stock futures stand still
On Tuesday, American stock index futures were quite muted, just a day after the S&P 500 as well as Nasdaq set intraday peaks, with traders going through the latest pack of earnings and also dismal data from China.
On Monday, the S&P 500 topped its intraday maximum of 2,940.91 reached on September 21, soaring to a session peak of 2,949.52. For the year, the benchmark index has rallied by 17.4%.
Expectations for a resolution to the US-China trade conflict, positive earnings along with a dovish Federal Reserve have driven the leap in shares in 2019, from an abrupt sell-off in late 2018.
Market participants will also pay much attention to another rounds of US-China trade talks. American Treasury Secretary Steven Mnuchin told that he hopes to make decent progress with Chinese negotiators.
Additionally, American futures as well as global stocks were under pressure after official and also private business polls suggested slower Chinese factory surge this month, thus confounding expectations for a steady outcome or even faster expansion.
ET, Dow e-minis jumped by 0.06%. Additionally, S&P 500 e-minis slumped by 0.01%, while Nasdaq 100 e-minis decreased by 0.1%.
Moreover, with earnings in full swing, experts expect gains at S&P 500 businesses to dive by 0.2% in the first quarter, which appears to be a steep improvement from a 2% decrease estimated at the beginning of April.
Among the high-growth FAANG shares, Alphabet headed south by 7.8% in pre-market trading right after the company reported its slowest gain leap for three years.
Apple Inc stocks went down 0.6%, ahead of outcomes later in the day.
Besides this, General Electric headed north by 6.6%.
Russian media companies are complaining that Youtube and Facebook block them. So sad. Now, what about the stock price?
Have you seen the Tesla stock price? But it has already dropped from that high... will it move up again?
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.