(MENAFN- Baystreet) Indexes Lose Ground as Yields Streak Higher
Dow Hikes with Strong Retail Sales
Markets Try to Collect Selves After Friday Drubbing
Stocks try to Rebound from Last Week's Selloff
S&P Suffers Worst Day Since January Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Tuesday, April 16, 2024
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Dow Jones Industrial Average futures climbed Tuesday, as the 30-stock benchmark looked to snap a six-day losing streak.
Futures for the 30-stock index climbed 234 points, or 0.6%, to 38,227.
Futures for the S&P 500 took on 11.5 points, or 0.2%, to 5,115.50.
Futures for the NASDAQ Composite acquired 32.25 points, or 0.2%, to 17,908.50.
UnitedHealth shares rallied more than 7% in the premarket on the back of better-than-expected revenue for the first quarter. Johnson & Johnson, another Dow member, posted mixed quarterly results, sending shares down slightly.
Morgan Stanley jumped around 2% before the bell after beating Wall Street consensus forecasts on both lines. Despite also surpassing expectations on both lines, Bank of America traded near its flatlines.
Traders will also watch for the latest reading of housing starts and building permits on Tuesday to gain insight into the health of the housing sector. Industrial production data is also set for release before the open.
Wall Street is coming off a choppy day that marked the 30-stock Dow's sixth straight losing session - its longest negative streak since June.
The blue-chip index erased most of its 2024 gains, a major reversal considering that just weeks ago it approached the key 40,000 level. The S&P 500 and NASDAQ Composite each closed Monday down more than 1%.
Elsewhere, investors were concerned of escalating tensions in the Middle East after Iran's launch of missiles and drones at Israel on Saturday.
In Japan, the Nikkei 225 slid 1.9% Tuesday, while in Hong Kong, the Hang Seng stumbled 2.1%.
Oil prices dropped 31 cents to $85.10 U.S. a barrel.
Gold prices jumped $6.30 to $2,389.30 U.S. an ounce.
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