Futures Hold Steady After Dow Milestone
Dow Jones Industrial Average futures were little changed on Monday night after the blue-chip index reached a fresh record. Futures linked to the 30-stock average gained 34 points, or less than 0.1%, while S&P 500 futures hovered near the flatline and Nasdaq-100 futures edged slightly lower.
Asia-Pacific Markets Open Lower
Asia-Pacific shares moved broadly lower early Tuesday, diverging from Wall Street’s overnight rally. South Korea’s Kospi led the declines with a 1.71% drop at the open, while the small-cap Kosdaq fell 0.72%. Japan’s Nikkei 225 was marginally lower, although the Topix rose 0.27%.
Australia and Hong Kong Also Weaken
Australia’s benchmark S&P/ASX 200 slipped 0.12%. Futures for Hong Kong’s Hang Seng index last traded at 23,571, below the index’s previous close of 23,616.32.
Wall Street Rally Lifts Dow Above 53,000
Monday’s session on Wall Street pushed the Dow above 53,000 for the first time, with the index also closing above that level. The S&P 500 advanced 0.7%, while the Nasdaq Composite gained more than 1% as technology stocks and semiconductor names recovered.
Chip Stocks Lead the Nasdaq Higher
Semiconductor-related stocks were among the strongest performers. Western Digital rose 7%, while Advanced Micro Devices gained 6.6%. The rebound in chip names helped drive the Nasdaq Composite higher and reinforced the broader strength in technology shares.
Rivian Falls After Share Offering
In individual stock moves, Rivian shares dropped about 9% after the electric vehicle maker launched a public offering of 75 million common shares. SpaceX slipped around 1% ahead of its Tuesday entry into the Nasdaq-100.
Dell Gains While Microsoft Retreats
Dell climbed more than 4% during Monday’s session after President Donald Trump encouraged consumers to buy the company’s computers at a White House event. Microsoft moved lower after announcing plans to cut 4,800 jobs.
Earnings Growth Supports Market Highs
Richard Bernstein, global head of macro and customized investing at Janus Henderson, said on CNBC’s “Closing Bell: Overtime”: “We’re getting new highs on various indices, and that makes sense.” He added: “Not only is earnings growth strong, but it’s abundant as well. That is spreading to the markets.”
Mixed Signals Before Tuesday’s Open
Before the Asia-Pacific session began, futures had suggested a mixed open. Japan’s Nikkei 225 had been positioned to rise, with the Chicago futures contract at 70,350 and the Osaka contract at 70,300, compared with the index’s previous close of 69,737.69. Futures for Australia’s S&P/ASX 200 last traded at 8,813 after the index closed at 8,831.
Trade Deficit Data in Focus
Investors will turn their attention Tuesday morning to U.S. trade deficit data. No major earnings releases are scheduled, leaving economic indicators and market momentum as the main drivers for the next session.
