Stock Futures are little changed after Nasdaq’s Third straight winning day:
Stock Futures are little changed after Nasdaq’s Third straight winning day:
Stock futures were positive on Tuesday evening as Wall Street looked to build on a positive start to the 2023 plan.
Futures related to Dow Jones went up 19 points or less than 0.1%. There is little change when it comes to Nasdaq 100 and S&P.
Nasdaq Composite rose 1.01% on Tuesday to settle its first three-day winning streak since November. S & P500 and Dow Jones increased by 0.70% and 0.56%, respectively. So the three averages are working on a good note and are doing well.
A relief rally has been featured for riskier markets, such as tech.
“I think it is going to be a challenge to try to time when the Fed ultimately starts to cut rates. There is some evidence that when rates start to decline from the Federal Reserve, better markets are ahead. But whether that ends up being in late 2023 or 2024, at least at this point, sitting in the mind of January, it’s just too difficult a situation,”said Mathew palazzolo.
There has been a lighter schedule for economic data on Wednesday, but investors will be gearing up for a key inflation report on Thursday and significant bank earnings on Friday.
Wells Fargo is shrinking its footprint in the mortgage market as the bank manages regulatory pressure and the impact of higher rates on housing.
Wells Fargo was one of the biggest lenders and is now only lending to present customers who are already connected and borrowers from minority communities.
Market stats:
Another positive session was put on by wall street on Tuesday.
- S & P rose 0.70% and now is up 2.08%.
- Nasdaq Composite rose 1.01% on Tuesday and now is 2.64%
- Smallcap Russell 2000 rose 1.49% on Tuesday. Now it is up 3.49%
