Reuters
As of 5:42 a.m. ET, Dow E-minis were up 32 points, or 0.07%, S&P 500 E-minis were up 6.5 points, or 0.11%, and Nasdaq 100 E-minis they rose 20.25 points, or 0.09%.
Highlights on investors’ radar will be the November Job Openings and Labor Turnover survey and the Institute for Supply Management’s data on December services activity, both of which will be released at 10 a.m. ET.
The key nonfarm payrolls figure will also be released later in the week and any signs of continued resilience in the economy will likely push back expectations about the pace of the Federal Reserve’s monetary easing cycle this year.
The 10-year Treasury yield has risen since early December and is trading at 4.6%, near its highest level since May 2024.
Traders expect the central bank to adopt a dovish stance for the first time this year in June, according to CME Group’s FedWatch tool, after the Federal Reserve forecast 50 basis point rate cuts in 2025. The minutes of the Fed’s meeting December central bank will be published on Wednesday.
Comments from Richmond Federal Reserve Bank President Thomas Barkin are expected Tuesday. He and his colleagues have widely warned against inflation risks and the need to keep borrowing costs restrictive longer as Trump takes office in the Oval Office later this month.
In the previous session, the benchmark S&P 500 index and the Nasdaq closed near one-week highs after President-elect Donald Trump’s denial of a report that his team was exploring less aggressive tariff policies cast uncertainty among market participants. market about its plans.
Analysts widely say that Trump’s campaign promises, such as tax cuts, tariffs and lax regulations, if implemented could revitalize the economy, although they could increase the upside risk to inflation and slow the pace of the easing cycle. Federal Reserve. Furthermore, if their tariff plans are put into practice, they could also spark a trade war between the country’s main partners.
Among premarket movers, Nvidia rose 1.6% a day after the second-largest publicly traded U.S. company unveiled new products and partnerships at a major annual technology conference in Las Vegas.
Micron Technology rose 5.4% after Nvidia boss Jensen Huang said the chipmaker was providing memory for the AI leader’s GeForce RTX 50 Blackwell family of gaming chips.
Self-driving technology maker Aurora Innovation jumped 44.4% after announcing a long-term partnership with Nvidia and Germany’s Continental to deploy driverless trucks at scale.
(Reporting by Johann M Cherian in Bengaluru; Editing by Maju Samuel)