Traders work on the floor of the New York Stock Exchange on April 26, 2023 in New York.
Michael M. Santiago | Getty Images
Stock futures were just below the flat line Tuesday morning.
Futures contracts linked to Dow Jones Industrial Average were down 33 points, or 0.09%. S&P 500 Futures Contracts were down 0.05%, while Nasdaq 100 Futures were flat.
In regular trading, the Dow ended Monday up more than 200 points, or about 0.6%. THE S&P500 added 0.7%, and the Nasdaq Composite jumped 1.1%, marking the fifth positive day for both indexes. THE Nasdaq100meanwhile, climbed about 1.2% and hit a 22-month high earlier today.
Microsoft climbed 2% to a 52-week high after the company announced that former OpenAI CEO Sam Altman would lead its artificial research team. Chip maker Nvidia added 2.3% and closed at a record high ahead of fiscal third-quarter results Tuesday afternoon. The S&P 500 information technology sector was the biggest gainer, rising 1.5%.
On Tuesday, investors will keep an eye on the minutes of the Federal Reserve’s October 31-November 1 policy meeting. Traders are hoping to gain insight into policymakers’ rate decision and know what it will take for them to change course in the future. Federal funds futures pricing data suggests a near 100% chance that the Federal Open Market Committee will keep rates unchanged at its upcoming December meeting.
A list of companies, besides Nvidia, will also release their quarterly results on Tuesday: Lowes And Best buy must present themselves before the bell, while HP will publish the results in the afternoon.
Markets experience a shortened trading week due to the Thanksgiving holiday on Thursday, followed by a close at 1 p.m. Eastern on Friday.