U.S. stock futures tumbled on Tuesday following Monday’s advances. Futures of the major benchmark indices were lower.
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.
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
-0.43%
S&P 500
-0.48%
Nasdaq 100
-0.56%
Russell 2000
-0.84%
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 lower in premarket on Tuesday. The SPY was down 0.35% at $666.68, while the QQQ declined 0.48% to $597.50.
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 maintains a weaker price trend over the short, medium, and long terms, with a solid growth score.
Comtech Telecommunications
Comtech Telecommunications Corp. (NASDAQ:CMTL) dropped 9.64% after posting mixed results for the second quarter after the closing bell on …Full story available on Benzinga.com
