US stock futures hit pause on Tuesday after the Dow’s latest record close, as Wall Street’s march back to record territory continued following last week’s tech sell-off.
Contracts on the Dow Jones Industrial Average (YM=F), the S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) hovered around the baseline.
The muted action follows another positive session for stocks to start the week. The Dow (^DJI) eked out a gain, setting another all-time high over 50,000. The S&P 500 (^GSPC) advanced roughly 0.5% and is within striking distance of its own record. The Nasdaq Composite (^IXIC) outperformed, jumping 0.9%.
Technology shares led Monday’s rally, extending momentum from last week’s rebound. Investors appear to have regained confidence that the market can push higher after a recent pullback tied to concerns around software and megacap tech.
Earnings season stays in focus, with Coca-Cola (KO) and Ford (F) both on Tuesday’s docket, arriving before the market open and after the close, respectively.
On the economic front, investors are waiting for fresh retail sales data due Tuesday morning. Then attention turns to Wednesday‘s release of the January jobs report, closely watched following reports last week showing softening in the labor market. The latest Consumer Price Index reading is then due on Friday to give a look at inflation pressures.
Gold (GC=F) and bitcoin (BTC-USD) remain on investors’ radar, with both assets attempting to stabilize after last week’s sharp pullback. Bitcoin in particular has seen heavy volatlity, in what one analyst called a “crisis of confidence.“
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