People walk through the New York Stock Exchange (NYSE) in Lower Manhattan on October 02, 2020 in New York City.
Spencer Plot | Getty Images
US stock futures were flat in overnight trading on Tuesday as investors awaited the first batch of corporate earnings and updates on the stimulus package.
Dow futures rose 10 points. S&P 500 futures and Nasdaq 100 futures gained 0.04% and 0.1%, respectively.
Disney received a lift of more than 5% after hours of trading after Disney announced the restructuring of a large company with streaming to the front of its business. Disney said it is concentrating its media businesses into an organization that will be responsible for content distribution, ad sales and Disney +.
The third-quarter earnings season begins on Tuesday, with several major banks reporting their results, including JPMorgan Chase, Citigroup and Delta Air Lines. Third quarter results are expected to decline significantly; However, traders are hoping for a surprise to Latu.
On Monday, investors turned away from the cyclone and turned to technical names after minor improvements to the financial aid package were announced. The Dow Jones Industrial Average climbed 250 points and the S&P 500 rose 1.64%, both helped by a 6.4% jump in Apple’s stock.
Apple Pal’s long-awaited iPhone launch, which was postponed in October due to the Covid-19, takes place on Tuesday and the company expects to launch its first 5G iPhone. “It will be the most significant iPhone event of the year,” Morgan Stanley’s Kitty Huberty told customers.
Leading Technol st G stocks, the Nasdaq Composite rose 2.56% on Tuesday, its best day since September 9th.
Investors also weighed in on the possibility of another coronavirus relief package from Washington. Over the weekend, the Trump administration called on Congress to pass a small $ 1.8 billion coronavirus relief bill as negotiations on a larger package continue into road blocks. However, House Speaker Nancy Pelosi said in a letter to colleagues that the proposal contains inadequate offers on healthcare issues.
“This is hardly about ‘excitement’ anymore,” Jim Paul Paulsson, chief investment strategist at Lutheld Group, told CNBC. The S&P 500 Index today moved closer to an all-time record high, led by growth, technology, communications and consumer discretionary sectors. “
“Recently, the stock market has been booming, whether the news around the additional stimulus package is good or bad, indicating that stocks are already responding which will likely prove to be a quarterly earnings season.”
BlackRock and Johnson also reported quarterly earnings to Johnson before Tuesday.
Amazon’s Prime Day will start on Tuesday and according to NPD, the two-day event could mark the biggest shopping online shopping day of the year, with 57% of consumers planning to do some if not all of their holiday shopping this week.
The Labor Department will release the September consumer price index at 8:30 a.m. ET on Tuesday. Economists powered by Factset are expecting a 0.2% rise in prices. Prices rose 0.4% in August, which will be helped by gains in gasoline costs.
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