US stock futures barely moved on Tuesday. After Monday’s rally, it looks like investors just needed a breather. Dow Jones futures ticked up less than 0.01%. S&P 500 and Nasdaq 100 inched a bit higher, up 0.03% and 0.1%. Not much action, really, but that’s pretty typical after a strong start to a holiday-shortened week. Everyone’s watching for fresh economic data as we head toward the holidays.
Tech Stocks Lead Monday’s Rally
On Monday, tech stocks did the heavy lifting, pushing Wall Street higher. The Dow finished up 0.47%. S&P 500 gained 0.64%. Nasdaq jumped 0.52%. Once again, technology stocks set the pace. NVIDIA rose 1.5% after word got out that it plans to ship its new H200 AI chips to China by mid-February. Oracle shares jumped 3.2%. Micron Technology gained 4%. Tech just keeps leading the charge.
Investors Await Key Economic Data
Now, investors are awaiting key US economic reports. The market’s eyeing the next GDP estimate for the third quarter and fresh numbers on the PCE price index from July through September. The Fed pays close attention to that inflation data, so traders do too.
This Thursday is Christmas, because of which trading will be slower. Moreover, the market closes early on Wednesday for Christmas Eve and remains closed on Thursday.
