US Stocks Look Set For Lower Start On Tuesday Ahead Of Microsoft's Earnings: Analysts Caution Of More Nea
The index futures signal a nervous start on Wall Street as the breathtaking rally of the past two sessions and the imminent tech earnings force traders to go on the defensive.
Cues From Mondays Trading:
U.S. stocks rallied out of the gate on Monday reflecting optimism among traders over soft landing and better-than-feared earnings from companies. The major averages started the session high and advanced till early afternoon trading. A period of consolidation followed before the major indices gave back some of their gains in late trading and yet closed notably higher for the session.
With Mondays rally, the S&P 500 Index closed above the 4,000 psychological mark for the first time since early December. The Nasdaq Composite, which outperformed the other major gauges, also settled at nearly a two-month high.
A majority of sectors advanced during the session, led by IT, communication services, financial, consumer discretionary and industrial stocks. On the other hand, energy stocks pulled back.
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