Stock futures edged lower on Tuesday, threatening to end the S&P 500’s six-day winning streak and casting a shadow over the recent bullish momentum seen on Wall Street.
Futures linked to the S&P 500 slipped 0.4 percent, while Nasdaq 100 futures dropped 0.5 percent. Dow Jones Industrial Average futures also moved lower, shedding 97 points, or 0.2 percent.
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The pullback in futures comes after a muted yet positive session on Monday, where the S&P 500 inched up 0.09 percent to notch its sixth consecutive gain. The Dow climbed 137 points, or 0.32 percent, while the Nasdaq Composite barely moved, adding just 0.02 percent.
Though Monday’s uptick was modest, it added to an impressive run for U.S. equities over the past five weeks, with the S&P 500 now hovering just 3 percent below its all-time high. This surge has come despite lingering concerns over economic headwinds—from tariff-related uncertainties to recession fears and even a recent downgrade of the U.S. government's credit rating by Moody’s.
Nvidia shares will be in focus in today's session after CEO Jensen Huang made a slew of announcements and revealed new products on Monday that are aimed at keeping the company at the centre of artificial intelligence development and computing. One of the most notable announcements was its new “NVLink Fusion” program, which will allow customers and partners to use non-Nvidia central processing units and graphics processing units together with Nvidia’s products and its NVLink.
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Investors will be closely watching commentary from Federal Reserve officials throughout the day, including remarks from newly appointed St. Louis Fed President Alberto Musalem, for clues on where interest rate policy might be headed next.
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