Stock futures are little changed Tuesday night as market rally falters

The U.S stock futures were seen to be flat on Tuesday.

Futures that are connected to Dow Jones industrial decreased by 21 points, which is 0.06%. S&P 500 futures decreased by 0.06% and Nasdaq 100 futures decreased by 0.03%.

Shares of Fedex decreased by 3% in the extended trading.

Earlier on Tuesday the stocks were seen to decrease. The Dow decreased by 245.25 points or 0.75%. S&P 500 decreased by 0.47%. Nasdaq composite decreased by 0.16%.

“With S&P 500 and Nasdaq marching higher and breaking through key resistance levels, and underpinned by stronger volume and broader participation, markets reached short term overbought levels on Friday,” Quincy Krosby said.

Hong Kong shares of Chinese tech company Alibaba decreased by 3%. Alibaba’s U.S stocks decreased by 4.53%. Earlier in march Alibaba said the firm will be divided into six business groups.

South Korea’s producer prices in may increased by 0.6%. Which is lower than April’s figure which is an increase of 1.6%.

The Korean Won decreased by 0.12%.

According to an analysis by Stephens, the Federal Reserve has stated that it plans to raise interest rates two more times this year. This is seen as good news for people who save money in online banks. The analyst, Vincent Caintic, believes that as a result of this announcement, the interest rates offered by online banks will continue to increase throughout the year.

Capital One recently raised the annual percentage yield on its high-yield savings account to 4.10%. Synchrony Financial also increased the yield on its one-year certificate of deposit (CD) to 4.8%.

However, Bread Financial is the top performer among the banks covered by Stephens, offering an annual percentage yield of 5.25% on its 12-month CD and 4.75% on its savings account.

Stock futures changed a little on Tuesday evening. Futures tied to Dow Jones industrial decreased by 17 points which is 0.05%. S&P 500 decreased by 0.05% and Nasdaq futures decreased by 0.03%.

Earlier on Tuesday the stocks decreased for the second consecutive day. Dow Decreased by 245.25 which is 0.72% which makes it 34,053.87.

The S&P 500 decreased by 0.47% which makes it 4,388.71, Nasdaq composite decreased by 0.16% which makes it 13,667.29.

- Published By Team Nation Press News