U.S. stock futures were slightly higher during Tuesday night trade, following a negative session for major benchmark averages. By 6:20 pm ET, Dow futures and S&P 500 futures were up by 0.1% apiece. On Wednesday, investors will be monitoring housing market activity and quarterly earnings reports from companies such as Micron Technology Inc, Paychex Inc, Jefferies Financial Group Inc, and Concentrix Corp.
During Tuesday’s regular session, the Dow Jones Industrial Average dropped 388 points or 1.1% to 33,618.9, while the S&P 500 lost 63.9 points or 1.5% to 4,273.5 and the Nasdaq Composite lost 207.7 points or 1.6% to 13,063.6. On the data front, both housing market activity and construction spending came in below analyst expectations due to higher borrowing costs. Bond rates also remained near 16-year highs of 4.55%.
In summary, U.S. stock futures were slightly higher following a negative session for major benchmark averages. Investors will be focusing on housing market activity and upcoming quarterly earnings reports. Tuesday’s regular session saw a decline in major stock indices, influenced by lower-than-expected housing market activity and construction spending. Bond rates also remained at elevated levels.