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Dow set to catch

FOREX_dow-set-to-catch-its-brath-after-racking-up1007_FXPIG

U.S. stock futures pointed to a muted open Tuesday, setting the Dow up for a breather after its 320-point rally pinned on strong economic data that offset trade-related fears.

What are the main benchmarks doing?

Dow Jones Industrial Average futures YMU8, +0.14% edged up by 31 points, or 0.1%, to 24,805, while S&P 500 futures ESU8, +0.07% added 2.35 points, or 0.1%, to 2,789.75. Nasdaq-100 futures NQU8, +0.18% tacked on 10.75 points, or 0.2%, to 7,311.

On Monday, the Dow DJIA, +1.31% closed higher by 320.11 points, or 1.3%, as the S&P 500 SPX, +0.88% and Nasdaq Composite COMP, +0.88% each added 0.9%.

The blue-chip gauge turned positive for the year on Monday, flipping to a 0.2% gain, while the S&P and tech-laden Nasdaq have advanced b 4.1% and 12%, respectively, as of Monday’s close.

What’s driving markets?

Investors are bracing for a round of quarterly earnings reports that are expected to show off Corporate America’s health. PepsiCo Inc.’s PEP, -1.64% results are on tap before the open Tuesday, and a trio of giant banks — J.P. Morgan Chase & Co.JPM, +3.09% , Citigroup Inc. C, +2.68% and Wells Fargo & Co. WFC, +1.57%  — are due to reveal their performance Friday.

Meanwhile, recent economics reports have been seen as underlining the strength of the American economy at a time when many investors are concerned about worsening relations between the U.S. and its major trading partners.

What are strategists saying?

“With the prospect of a positive earnings season ahead of us, investors seem to have forgotten the threat of further trade tensions,” said Konstantinos Anthis, head of research at ADS Securities, in a note Tuesday.

Which stocks are in focus?

21st Century Fox Inc. FOX, +1.34%  is preparing to counter ComcastCMCSA, -0.06%  Corp.’s latest offer for Sky PLC SKY, +1.50%  with a new, higher bid, according to a Financial Times report.

Which economic reports are on tap?

A June report on U.S. small-business confidence is slated to hit at 6 a.m. Eastern Time. At 10 a.m. Eastern, a May reading on job openings is scheduled for release.

On the Federal Reserve front, no Fed officials are expected to give speeches on Tuesday.

What are other markets doing?

European stocks SXXP, +0.16% traded mostly higher, while Asian markets largely closed with gains.

Gold futures  GCQ8, -0.50% were falling, U.S. oil futures CLQ8, +0.62% were climbing, and the ICE U.S. Dollar Index DXY, +0.24% was roughly flat.

Source: marketwatch.com

U.S. stock futures pointed to a muted open Tuesday, setting the Dow up for a breather after its 320-point rally pinned on strong economic data that offset trade-related fears.

What are the main benchmarks doing?

Dow Jones Industrial Average futures YMU8, +0.14% edged up by 31 points, or 0.1%, to 24,805, while S&P 500 futures ESU8, +0.07% added 2.35 points, or 0.1%, to 2,789.75. Nasdaq-100 futures NQU8, +0.18% tacked on 10.75 points, or 0.2%, to 7,311.

On Monday, the Dow DJIA, +1.31% closed higher by 320.11 points, or 1.3%, as the S&P 500 SPX, +0.88% and Nasdaq Composite COMP, +0.88% each added 0.9%.

The blue-chip gauge turned positive for the year on Monday, flipping to a 0.2% gain, while the S&P and tech-laden Nasdaq have advanced b 4.1% and 12%, respectively, as of Monday’s close.

What’s driving markets?

Investors are bracing for a round of quarterly earnings reports that are expected to show off Corporate America’s health. PepsiCo Inc.’s PEP, -1.64% results are on tap before the open Tuesday, and a trio of giant banks — J.P. Morgan Chase & Co.JPM, +3.09% , Citigroup Inc. C, +2.68% and Wells Fargo & Co. WFC, +1.57%  — are due to reveal their performance Friday.

Meanwhile, recent economics reports have been seen as underlining the strength of the American economy at a time when many investors are concerned about worsening relations between the U.S. and its major trading partners.

What are strategists saying?

“With the prospect of a positive earnings season ahead of us, investors seem to have forgotten the threat of further trade tensions,” said Konstantinos Anthis, head of research at ADS Securities, in a note Tuesday.

Which stocks are in focus?

21st Century Fox Inc. FOX, +1.34%  is preparing to counter ComcastCMCSA, -0.06%  Corp.’s latest offer for Sky PLC SKY, +1.50%  with a new, higher bid, according to a Financial Times report.

Which economic reports are on tap?

A June report on U.S. small-business confidence is slated to hit at 6 a.m. Eastern Time. At 10 a.m. Eastern, a May reading on job openings is scheduled for release.

On the Federal Reserve front, no Fed officials are expected to give speeches on Tuesday.

What are other markets doing?

European stocks SXXP, +0.16% traded mostly higher, while Asian markets largely closed with gains.

Gold futures  GCQ8, -0.50% were falling, U.S. oil futures CLQ8, +0.62% were climbing, and the ICE U.S. Dollar Index DXY, +0.24% was roughly flat.

Source: marketwatch.com

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