Stock Market Today: Dow Futures Rise, Nasdaq, S&P 500 Slip Amid Mixed Trade—Kenvue, Micron Tech, Nvidia In Focus (UPDATED) Rishabh Mishra Markets

Editor’s Note: The future prices of benchmark tracking ETFs were updated in the story.

U.S. stock futures were fluctuating on Tuesday following Monday’s record advances. Futures of major benchmark indices were mixed.

Fueled by expectations that the AI trade and future Federal Reserve interest-rate cuts will continue to power the market, stocks surged on Monday to secure a third consecutive record-high close.

Investors are eyeing the central bank’s chair, Jerome Powell, who is scheduled to deliver a speech on monetary policy later Tuesday.

Meanwhile, the 10-year Treasury bond yielded 4.13% and the two-year bond was at 3.59%. The CME Group’s FedWatch tool’s projections show markets pricing a 91.9% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and the Nasdaq 100 index, respectively, were mixed in premarket on Tuesday. The SPY was down 0.0030% at $666.82, while the QQQ rose 0.038% to $602.43, according to Benzinga Pro data.

Cues From Last Session

Information technology and utilities stocks bucked the overall market trend to close higher, while most sectors on the S&P 500 finished negatively. Communication services, consumer staples, and consumer discretionary stocks recorded the biggest losses on Monday.

U.S. stocks still settled higher, with the Nasdaq Composite gaining over 150 points as major large-cap indices extended records. These gains followed a positive week for all three major indices, during which the S&P 500 rose 1.2% and the Dow added 1%. The Nasdaq had surged 2.2% over the same period.

Gains of around 4% for both Nvidia Corp. (NASDAQ:NVDA) and Apple Inc. (NASDAQ:AAPL) helped push the Magnificent 7’s combined valuation to over $20 trillion. The 10 most valuable U.S. companies now hold a record market capitalization of approximately $24.3 trillion.

On the economic front, the Chicago Fed National Activity Index climbed to -0.12 in August for its highest reading in five months. …

Full story available on Benzinga.com

Editor’s Note: The future prices of benchmark tracking ETFs were updated in the story.

U.S. stock futures were fluctuating on Tuesday following Monday’s record advances. Futures of major benchmark indices were mixed.

Fueled by expectations that the AI trade and future Federal Reserve interest-rate cuts will continue to power the market, stocks surged on Monday to secure a third consecutive record-high close.

Investors are eyeing the central bank’s chair, Jerome Powell, who is scheduled to deliver a speech on monetary policy later Tuesday.

Meanwhile, the 10-year Treasury bond yielded 4.13% and the two-year bond was at 3.59%. The CME Group’s FedWatch tool’s projections show markets pricing a 91.9% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and the Nasdaq 100 index, respectively, were mixed in premarket on Tuesday. The SPY was down 0.0030% at $666.82, while the QQQ rose 0.038% to $602.43, according to Benzinga Pro data.

Cues From Last Session

Information technology and utilities stocks bucked the overall market trend to close higher, while most sectors on the S&P 500 finished negatively. Communication services, consumer staples, and consumer discretionary stocks recorded the biggest losses on Monday.

U.S. stocks still settled higher, with the Nasdaq Composite gaining over 150 points as major large-cap indices extended records. These gains followed a positive week for all three major indices, during which the S&P 500 rose 1.2% and the Dow added 1%. The Nasdaq had surged 2.2% over the same period.

Gains of around 4% for both Nvidia Corp. (NASDAQ:NVDA) and Apple Inc. (NASDAQ:AAPL) helped push the Magnificent 7’s combined valuation to over $20 trillion. The 10 most valuable U.S. companies now hold a record market capitalization of approximately $24.3 trillion.

On the economic front, the Chicago Fed National Activity Index climbed to -0.12 in August for its highest reading in five months. …

Full story available on Benzinga.com

 Editor’s Note: The future prices of benchmark tracking ETFs were updated in the story.
U.S. stock futures were fluctuating on Tuesday following Monday’s record advances. Futures of major benchmark indices were mixed.
Fueled by expectations that the AI trade and future Federal Reserve interest-rate cuts will continue to power the market, stocks surged on Monday to secure a third consecutive record-high close.
Investors are eyeing the central bank’s chair, Jerome Powell, who is scheduled to deliver a speech on monetary policy later Tuesday.
Meanwhile, the 10-year Treasury bond yielded 4.13% and the two-year bond was at 3.59%. The CME Group’s FedWatch tool’s projections show markets pricing a 91.9% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.

Futures
Change (+/-)

Dow Jones
0.11%

S&P 500
-0.02%

Nasdaq 100
-0.27%

Russell 2000
0.03%

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and the Nasdaq 100 index, respectively, were mixed in premarket on Tuesday. The SPY was down 0.0030% at $666.82, while the QQQ rose 0.038% to $602.43, according to Benzinga Pro data.

Cues From Last Session
Information technology and utilities stocks bucked the overall market trend to close higher, while most sectors on the S&P 500 finished negatively. Communication services, consumer staples, and consumer discretionary stocks recorded the biggest losses on Monday.
U.S. stocks still settled higher, with the Nasdaq Composite gaining over 150 points as major large-cap indices extended records. These gains followed a positive week for all three major indices, during which the S&P 500 rose 1.2% and the Dow added 1%. The Nasdaq had surged 2.2% over the same period.
Gains of around 4% for both Nvidia Corp. (NASDAQ:NVDA) and Apple Inc. (NASDAQ:AAPL) helped push the Magnificent 7’s combined valuation to over $20 trillion. The 10 most valuable U.S. companies now hold a record market capitalization of approximately $24.3 trillion.
On the economic front, the Chicago Fed National Activity Index climbed to -0.12 in August for its highest reading in five months. …Full story available on Benzinga.com   Read MoreAAPL, AIR, AZO, Earnings, Equities, FLY, HOLO, KVUE, Market Summary, MBX, MU, NVDA, PLUG, QQQ, SPY, Emerging Markets, Futures, Commodities, Treasuries, Economics, Federal Reserve, Pre-Market Outlook, Markets, Analyst Ratings, Trading Ideas, ETFs, SPY, US78462F1030, AAPL, US0378331005, NVDA, US67066G1040, PLUG, US72919P2020, AIR, US0003611052, AZO, US0533321024, FLY, US34407D1090, MU, US5951121038, QQQ, US73935A1043, MBX, HOLO, KVUE, Earnings, Equities, Market Summary, Emerging Markets, Futures, Commodities, Treasuries, Economics, Federal Reserve, Pre-Market Outlook, Markets, Analyst Ratings, Trading Ideas, ETFs, Benzinga Markets