Ahead of Market: 10 things that will decide D-Street action on Tuesday
Here's how analysts the market pulse:
«We anticipate this trend will persist in the near term due to expectations of a rebound in discretionary spending. Investors are now focusing on upcoming US job data and the Fed Chair's speech for further indication on interest rates,» said Vinod Nair, Head of Research, Geojit Financial Services.
«The consistent buying interest on dips suggests bullish control, likely continuing the current tone. The renewed strength in midcap and smallcap segments adds further positivity. Traders should focus on selecting sectors/themes with rotational participation and consider adding positions during pauses or dips,» said Ajit Mishra – SVP, Research, Religare Broking.
That said, here’s a look at what some key indicators are suggesting for Tuesday's action:
US market
Banking stocks lifted the Dow, while semiconductor shares weighed on the Nasdaq on Monday as focus moves to labor market data due later in the week for cues on the Federal Reserve's monetary policy path.
The S&P 500 banking index jumped 1.3% to its highest in more than a month, with shares of JP Morgan Chase touching an all-time high. Benchmark U.S. Treasury yields jumped to their highest in over two weeks.
At 10:16 a.m. ET, the Dow Jones Industrial Average was up 62.31 points, or 0.16%, at 39,181.17, the S&P 500 was down 9.52 points, or 0.17%, at 5,450.96, and the Nasdaq Composite was down 47.20 points, or 0.27%, at 17,685.40.
The Nasdaq and the benchmark S&P 500 notched their third straight quarterly gains on Friday,
