Wall Street futures dip after record-high streak, eyes on Fed
Business Desk
Wall Street trading was quiet early Tuesday after the market posted a third consecutive record-high close.
Futures for the S&P 500 and Nasdaq were slightly down by 0.1% before the opening bell, while Dow Jones industrials futures remained unchanged.
Investors are focusing on upcoming central bank decisions, especially from the U.S. Federal Reserve. Stock markets have climbed since April on hopes that President Donald Trump’s tariffs will not disrupt global trade and that the Fed will continue cutting interest rates to support economic growth.
Markets may also respond to a speech by Fed Chairman Jerome Powell on Tuesday. The Fed made its first rate cut of the year last week and indicated more reductions could follow through this year and into next. New data on U.S. household prices is expected on Friday.
“A busier data day is expected, but all eyes will be on Fed Chair Powell’s speech tonight, which may clarify last week’s rate cut as a ‘risk management’ move,” said Michael Brown, senior research strategist at Pepperstone.
In early trading, shares of Kenvue Inc., the maker of Tylenol, rose nearly 6%, rebounding from a record low on Monday after Trump linked Tylenol to vaccines and autism, claims the company denied.
Walt Disney Co. shares edged up less than 1% after ABC said Jimmy Kimmel’s late-night show would return Tuesday evening. ABC had suspended the show after affiliates criticized Kimmel’s comments on the assassination of conservative activist Charlie Kirk.
Boeing shares gained more than 2% following Uzbekistan Airways’ announcement to buy up to 22 Boeing 787 Dreamliners. Reports also suggested U.S. officials might secure a large plane order from China.
In Europe at midday, France's CAC 40 rose 0.7% and Germany's DAX climbed 0.3%, while Britain’s FTSE 100 remained flat.
In Asia, Tokyo markets were closed for a holiday. Australia’s S&P/ASX 200 increased 0.4% to 8,845.90, and South Korea's Kospi rose 0.5% to 3,486.19. Meanwhile, China saw declines, with Hong Kong's Hang Seng down 0.7% at 26,159.12 and the Shanghai Composite slipping 0.2% to 3,821.83 amid ongoing tariff discussions.
