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U.S. Stock Futures Trade Steady Following Positive Debt Ceiling Negotiations.

Dow Jones, S&P 500, and Nasdaq 100 Futures Show Minimal Movement

U.S. stock futures maintained a narrow range in Monday evening’s trading, following a positive regular session where major benchmark averages closed higher. This came as congressional leaders engaged in debt ceiling negotiations with President Joe Biden.

By 6:30 pm ET (10:30 pm GMT), Dow Jones Futures, S&P 500 Futures, and Nasdaq 100 Futures were all trading within a 0.1% range, indicating relative stability in the market.

Capital One Financial Rises as Berkshire Hathaway Initiates Position

In after-hours trading, Capital One Financial (NYSE: COF) experienced a 5.5% gain after Warren Buffett’s Berkshire Hathaway (NYSE: BRKa) disclosed a new position in the company. This news further buoyed market sentiment.

Key Events to Watch in Tuesday’s Session

  • Market participants will closely monitor several key events during Tuesday’s session. These include:
  • Retail Sales: The retail sales data will provide insights into consumer spending trends, which have a significant impact on the overall economy.
  • Industrial Production: The industrial production report will offer an indication of the manufacturing sector’s health and its contribution to economic growth.
  • Business Inventories: Business inventory levels can reveal important information about supply chain dynamics and overall business activity.
  • Speeches from Prominent Figures: Speeches by Mester, Bostic, Williams, and Logan will be closely watched for any hints regarding monetary policy and economic outlook.
Technical analysis

Notable Earnings Releases

Several notable companies are scheduled to release their earnings results during the session. These include:

Home Depot Inc (NYSE: HD): The earnings report from Home Depot, a leading home improvement retailer, will provide insights into the state of the housing market and consumer spending on home renovations.

Baidu Inc (NASDAQ: BIDU): The earnings release from Baidu, a prominent Chinese technology company, will be of interest to investors tracking the performance of the tech sector, particularly in the context of U.S.-China relations.

Tencent Music Entertainment Group (NYSE: TME): The earnings report from Tencent Music Entertainment Group, a major player in the online music streaming industry, will shed light on the evolving dynamics of the digital entertainment space.

James Hardie Industries PLC (ASX: JHX): The earnings release from James Hardie Industries, an Australian building materials company, will offer insights into the construction and housing sectors, both domestically and internationally.

 Market Recap of Monday’s Regular Trade

During Monday’s regular trading session, the Dow Jones Industrial Average gained 48 points or 0.1%, closing at 33,348.6. The S&P 500 lifted 12.2 points or 0.3% to 4,136.3, while the NASDAQ Composite added 80.5 points or 0.7% to 12,365.2. The positive market performance reflected the optimism surrounding the ongoing debt ceiling negotiations.

 Bond Market Update

United States 10-Year rates stood at 3.507% in the bond markets. Bond market activity is closely monitored as an indicator of investor sentiment and economic expectations.

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