Futures linked to the Dow Jones Industrial Average exhibited a decline of 33 points, equivalent to 0.09%. Concurrently, S&P 500 futures experienced a marginal decrease of 0.05%, whereas Nasdaq 100 futures remained relatively unchanged.
In the preceding regular trading session, the Dow concluded Monday with a gain exceeding 200 points, approximately 0.6% higher. The S&P 500 recorded a 0.7% increase, and the Nasdaq Composite surged by 1.1%, marking the fifth consecutive positive day for both indices. The Nasdaq 100 also witnessed a climb of approximately 1.2%, reaching a 22-month high earlier in the day. the Dow Jones Industrial
Microsoft saw a 2% rise, touching a 52-week high, following the announcement that former OpenAI CEO Sam Altman would lead its artificial research team. Chipmaker Nvidia experienced a 2.3% increase, closing at an all-time high ahead of the release of fiscal third-quarter results scheduled for Tuesday afternoon. The information technology sector of the S&P 500 emerged as the top performer, showing a 1.5% rise.
Tuesday is poised for investor attention on the Federal Reserve’s Oct. 31 to Nov. 1 policy meeting minutes. Traders are eager to discern insights into policymakers’ rate decisions and the potential factors influencing their future stance. Fed funds futures pricing data indicates an almost 100% likelihood that the Federal Open Market Committee will maintain rates during its upcoming December meeting.
In addition to Nvidia, several companies are set to disclose quarterly results on Tuesday. Lowe’s and Best Buy are slated to report before the opening bell, while HP will release results later in the afternoon.
It’s worth noting that markets are operating on a shortened trading week due to the Thanksgiving holiday on Thursday, with a 1 p.m. Eastern time closure on Friday.
Sunac shares experienced a notable surge on Tuesday following an announcement by the troubled Chinese property developer that it has initiated the implementation of its debt overhaul plans, having met the necessary restructuring conditions.
On the Hong Kong stock exchange, Sunac’s shares soared by 18% to 2.75 Hong Kong dollars, reaching their highest level in a span of two months.
The restructuring strategy encompasses a comprehensive discharge and release of Sunac’s existing debt, with the issuance of new notes in exchange.