(Editor’s note: The future prices of benchmark tracking ETFs, the lede, and the headline were updated in the story.)
Dow Jones and S&P 500 futures pared earlier losses to trade slightly up on Tuesday, while Nasdaq futures were trading lower following Monday’s gains. Futures of the major benchmark indices were mixed.
President Donald Trump said on Tuesday that the mortgage levels have reached the “lowest level in five years, adding that the “cost of new mortgage is down by $5000,” after he signed an executive order aimed at deregulating the U.S. mortgage market last week.
Meanwhile, on Monday, countries like Germany, Spain, and Italy rejected President Trump‘s call to deploy naval forces to open the Strait of Hormuz, citing a lack of authorization from the United Nations and NATO.
Crude oil futures were trading higher in the early New York session by 4.72% to hover around $96.82 per barrel.
Meanwhile, the 10-year Treasury bond yielded 4.23%, and the two-year bond was at 3.68%. The CME Group’s FedWatch tool‘s projections show markets pricing a 99.1% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.
Index
Performance (+/-)
Dow Jones
0.12%
S&P 500
0.04%
Nasdaq 100
-0.05%
Russell 2000
-0.02%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Tuesday. The SPY was up 0.14% at $669.97, while the QQQ advanced 0.10% to $601.
Stocks In Focus
Uber Technologies
Uber Technologies Inc. (NYSE:UBER) rose 2.11% in premarket on Tuesday after the ride-hailing giant and Nvidia Corp. (NASDAQ:NVDA) announced an expansion of their autonomous-vehicle partnership.
Benzinga’s Edge Stock Rankings indicate that UBER …Full story available on Benzinga.com
