Stocks Poised for a Comeback as Investors Await Key US Economic Data

Stocks Poised for a Comeback as Investors Await Key Economic Data

After a series of losing days, stocks are gearing up for a comeback on Tuesday as investors eagerly await key data that will shed light on the state of the US economy. Futures on the S&P 500 rose by approximately 0.2%, while futures on the Dow Jones Industrial Average traded slightly above the flatline with a gain of about 20 points, or less than 0.1%. Futures on the tech-heavy Nasdaq Composite were up 0.4%.

This more optimistic tone follows the Dow’s sixth consecutive day of declines on Monday, coupled with losses on five of the last six sessions for the Nasdaq. Investors are now turning their attention to updates on home sales, durable goods, and consumer confidence, all of which are due on Tuesday. This week is expected to be significant for economic data, as markets closely monitor the resilience of the US economy amid concerns about the potential recession triggered by the Federal Reserve’s rate hikes.

Market participants are particularly interested in any factors that could influence the central bank’s decision-making leading up to its July meeting. The focus is on signs of resilience as worries about a recession resurface due to the Fed’s rate hike campaign.

As the last days of the quarter and the first half of 2023 approach, investors are likely to engage in a fair amount of buying and selling to rebalance their asset allocations. This period could see increased market activity and volatility.

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What key economic data are investors eagerly anticipating to gauge the state of the US economy?

Stocks Ready for a Comeback as Investors Anticipate Key Economic Data

After enduring a streak of losses, stocks are gearing up for a potential comeback as investors eagerly await key data that will provide insight into the state of the US economy. Futures on the S&P 500 have risen by approximately 0.2%, while futures on the Dow Jones Industrial Average traded slightly above the flatline with a gain of about 20 points, or less than 0.1%. Meanwhile, futures on the tech-heavy Nasdaq Composite were up 0.4%.

This more positive tone comes after the Dow’s sixth consecutive day of declines on Monday, along with losses on five of the last six sessions for the Nasdaq. Now, investors are turning their focus towards updates on home sales, durable goods, and consumer confidence, all of which are expected to be released on Tuesday. This week holds significance for economic data, as markets intently monitor the resilience of the US economy amidst concerns surrounding a potential recession triggered by the Federal Reserve’s rate hikes.

Market participants are particularly interested in any indicators that could impact the central bank’s decision-making leading up to its July meeting. The focus is on signs of resilience as worries about a recession resurface due to the Fed’s rate hike campaign.

With the end of the quarter and the first half of 2023 approaching, investors are likely to engage in a fair amount of buying and selling in order to rebalance their asset allocations. This period could see increased market activity and volatility.

Stay up-to-date with the latest stock market news and in-depth analysis, including events that have an impact on stocks, by clicking here.

For the most recent financial and business news from Yahoo Finance, click here.