U.S. stock futures were trading lower on Wednesday, after advancing for three consecutive sessions. Futures of major benchmark indices were lower in premarket trading.
Investors are reacting cautiously to President Donald Trump‘s mixed tariff signals. While stocks rallied on hints of potential duty reductions, Trump also announced impending tariffs on pharma and auto, along with secondary tariffs on Venezuelan oil and gas buyers. The volatility reflects the market’s sensitivity to the administration’s fluctuating trade stance.
The 10-year Treasury yield stood at 4.33%, while the two-year yield was at 4.02%. According to the CME Group’s FedWatch tool, there is an 88.4% chance that the Federal Reserve will keep the interest rates unchanged during its May meeting.
Futures
Change (+/-)
Nasdaq 100
-0.15%
S&P 500
-0.12%
Dow Jones
-0.16%
Russell 2000
-0.21%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, dropped in premarket on Wednesday. The SPY was down 0.18% to $574.44, while the QQQ declined 0.24% to $492.26, according to Benzinga Pro data.
Cues From Last Session:
Consumer discretionary, communication services, financials, and energy sectors led a broad market rally on Tuesday, driving U.S. stocks higher.
Whereas, utilities, consumer staples, real estate and health care sectors declined.
On the economic front, the U.S. home prices hit a 20th record high, S&P Case-Shiller showed a 4.1% annual rise in January. March saw a further decline in consumer confidence, according to the Conference Board, with the current conditions index slipping to 92.9, below expectations and marking a fourth consecutive monthly drop.
The Dow Jones index rose 4 points or 0.01% on Tuesday to 42,587.50, whereas the S&P 500 index was up 0.16% at 5,776.65. Nasdaq Composite …Full story available on Benzinga.com
