Help your portfolio by embracing cyclical names: Market expert
Yardeni Research President Ed Yardeni, Advisor Group chief market strategist Phil Blancato and Dan Suzuki of Richard Bernstein Advisors discuss oil and energy stocks, inflation and today’s markets.
U.S. stock futures were little changed Tuesday as investors look ahead to the start of earnings season.
Dow Jones Industrial Average futures were down 15 points, or 0.04%, while S&P 500 futures and Nasdaq 100 futures advanced 0.04% and 0.22%, respectively.
Investors will get their latest glimpse into the health of the labor market with JOLTS Job Openings set to be released at 10 a.m. ET.
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In stocks, Tesla Inc. sold a record 56,006 China-made vehicles in September, according to China Passenger Car Association data released Tuesday. The figures include 3,853 vehicles that were exported.
Elsewhere, Nike Inc. was upgraded to "buy" and given a $172 price target at Goldman Sachs due to its "powerful brand legacy" amid a healthy industry backdrop.
CureVac BV was sharply lower after the Germany-based biopharmaceutical company said it would discontinue its COVID-19 vaccine.
In deals, Signet Jewelers Ltd. agreed to buy Diamonds Direct for $490 million cash and said the deal would be immediately accretive to earnings.
JPMorgan Chase & CO., BlackRock Inc. and Delta Air Lines Inc. are scheduled to kick off earnings season when they release their quarterly results ahead of Wednesday’s opening bell.
In commodities, West Texas Intermediate crude oil climbed 28 cents to $80.80 a barrel and gold edged up $7.20 to $1,762.90 an ounce.
Overseas markets were broadly lower.
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European bourses were under modest selling pressure with Germany’s DAX slipping 0.27%, Britain’s FTSE 100 declining 0.33% and France’s CAC 40 sliding 0.42%.
In Asia, Japan’s Nikkei 225 lost 0.94% while China’s Shanghai Composite index and Hong Kong’s Hang Seng index tumbled 1.25% and 1.43%, respectively.
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