U.S. equity futures stumbled in pre-market trading on Tuesday, with shares rising as the technology rally began the week. Investors are watching the war in Ukraine and pushing for new sanctions against Russia.
Contracts for the S&P 500, Dow Jones Industrial and Nasdaq Composite are down approximately 0.2% from those opened after closing all three limits on Green Monday. Nasdaq – up 1.9% on key session – up 27% on Twitter excited (TWTRCame after Tesla (DSLA) CEO Elon Musk revealed he Bought a 9.2% stake in the social media company.
Musk told MKM Partners’ Rohit Kulkarni Yahoo Finance Live that “Twitter is talking about its money, claiming it is a discredited site”. “He sees that there are things they can do to improve the service, and he certainly points to a very active role.”
Wedbush Securities analyst and Tesla Bull Dan Yves predicts that Musk will be actively participating in social media platforms for Yahoo Finance in the coming weeks or months, and his latest shares “Just hungry. “
Separately, Musk’s own company, electric vehicle company Tesla, contributed to the gains that triggered the take-offs for technology during a trading session on Monday. Shares of the EV carmaker rose nearly 6% after reporting vehicle supply figures this weekend, which was higher than the same period last year.
The recession was in the bay after a closely monitored area on Monday The Treasury revenue curve was reversed last week And frightened investors of the possibility of an immediate economic contraction. This event has a history of predicting a recession, with each of the last eight recessions reversing the pre-1969 yield curve. As of Monday morning, the yield on the 10-year note was lower than the short-term 2-year note.
However, concerns about the economic downturn have not completely left the table for strategists.
Nomura chief US economist Robert Dent Yahoo Finance Live said He sees the potential for a “mild recession.”
“We expect the overall risk of recession to be around 35% to 40% now and by the end of 2024,” he said. From the central bank to really bring inflation under control and ensure that the labor market really cools down.
Uncertainty surrounding the crisis in Eastern Europe continues to be a headache for investors. JP Morgan CEO Jamie Dimon in his widely read partner letter Warned that the war in Ukraine would slow the American and world economies meaningfully. In the United States in particular, the Bank estimates that the US economy will grow at approximately 2.5%, down from the company’s initial GDP forecast of 3%, with large cuts in forecasts on economic outlooks in Russia and Europe.
“We do not know what the outcome will be, but hostilities in Ukraine and sanctions on Russia are already having a significant economic impact,” Dimon said, adding that “many more” sanctions could be imposed on Russia and provoke further unpredictability. .
The European Union (EU) on Monday addressed a series of open war crimes in Ukraine In a statement to officials“The task of imposing further sanctions against Russia”, targeted attacks on civilians in the country. Including some prominent European officials Germany’s defense minister has said he supports Russia’s ban on natural gas – Exclusion of sanctions as Russia supplies 40% of Europe’s gas.
7:10 am and: Stock futures slip, oil rises following Monday’s technology rally
Here are the key moves in futures trading that will open on Tuesday:
S&P 500 Futures (ES = F): -10.50 points (-0.23%) 4,567.25
Dow Futures (YM = F): -83.00 points (-0.24%) to 34,746.00
Nasdaq Futures (NQ = F): -37.75 points (-0.25%) to 15,126.50
RawCL = F): + $ 1.28 (+ 1.24%) to $ 104.56 a barrel
Gold (GC = F):-$ 1.70 (-0.09%) to $ 1,932.30 per ounce
10 year treasury (DNX): 0.4 bps to earn 2.4120%
6:12 pm and Monday: The futures changed slightly after the stock rose
Here is where the markets will trade before Monday night’s session:
S&P 500 Futures (ES = F): -2.25 points (-0.05%) 4,575.75
Dow Futures (YM = F): -14.00 points (-0.04%) to 34,815.00
Nasdaq Futures (NQ = F): -9.25 points (-0.06%) to 15,155.00
RawCL = F): + $ 0.43 (+ 0.42%) to $ 103.71 a barrel
Gold (GC = F): + $ 3.30 (+ 0.01%) to $ 1,937.30 per ounce
10 year treasury (DNX): +3.5 bps to earn 2.4120%
Alexandra Semanova is a Yahoo Finance correspondent. Follow her on Twitter @alexandraandnyc