After closing predominantly higher in the previous session, the stock market may experience turbulent trading during Tuesday's session. Current futures on major indices indicate an approximately neutral opening, with the S&P 500 futures seeing a marginal increase of 0.1%.
Due to the upcoming Christmas Day holiday on Wednesday, trading activity might be subdued as many traders are expected to be absent from their desks. Additionally, with markets scheduled for an early close this afternoon, some traders might opt to remain on the sidelines.
The absence of significant U.S. economic data releases could further contribute to lighter trading volumes. Reports on durable goods orders and new home sales were released on Monday after President Joe Biden issued an executive order closing federal government offices for Christmas Eve.
Despite an initial lack of direction, stocks moved mostly upward throughout Monday's trading. The major averages continued to build on the strong gains from Friday, recovering further from last Wednesday's sell-off.
As the day progressed, the Nasdaq and S&P 500 indices moved decisively into positive territory, while the Dow posted a more moderate increase. The Nasdaq rose 192.29 points or 1.0% to 19,764.89, the S&P 500 increased by 43.22 points or 0.7% to 5,974.07, and the Dow added 66.69 points or 0.2% to 42,906.95.
In the Asia-Pacific markets, there was a mixed performance during Tuesday's trading. Japan's Nikkei 225 Index decreased by 0.3%, while Hong Kong's Hang Seng Index advanced by 1.1%, and China's Shanghai Composite Index gained 1.3%.
European stocks demonstrated moderate strength in light pre-holiday trading. The U.K.'s FTSE 100 Index increased by 0.4%, and France's CAC 40 Index edged up by 0.1%. Meanwhile, the German markets were closed for the day.
In commodities, crude oil futures are up $0.53, reaching $69.77 a barrel after declining $0.22 to $69.24 a barrel on Monday. Conversely, gold futures, which dropped $16.90 to $2,628.20 an ounce in the previous session, are slightly down by $1.30 to $2,626.90 an ounce.
In the currency market, the U.S. dollar is trading at 157.15 yen, slightly down from Monday's close of 157.17 yen in New York trading. Against the euro, the dollar is currently valued at $1.0395, slightly lower than the previous session's $1.0405.
The material has been provided by InstaForex Company - www.instaforex.com
Due to the upcoming Christmas Day holiday on Wednesday, trading activity might be subdued as many traders are expected to be absent from their desks. Additionally, with markets scheduled for an early close this afternoon, some traders might opt to remain on the sidelines.
The absence of significant U.S. economic data releases could further contribute to lighter trading volumes. Reports on durable goods orders and new home sales were released on Monday after President Joe Biden issued an executive order closing federal government offices for Christmas Eve.
Despite an initial lack of direction, stocks moved mostly upward throughout Monday's trading. The major averages continued to build on the strong gains from Friday, recovering further from last Wednesday's sell-off.
As the day progressed, the Nasdaq and S&P 500 indices moved decisively into positive territory, while the Dow posted a more moderate increase. The Nasdaq rose 192.29 points or 1.0% to 19,764.89, the S&P 500 increased by 43.22 points or 0.7% to 5,974.07, and the Dow added 66.69 points or 0.2% to 42,906.95.
In the Asia-Pacific markets, there was a mixed performance during Tuesday's trading. Japan's Nikkei 225 Index decreased by 0.3%, while Hong Kong's Hang Seng Index advanced by 1.1%, and China's Shanghai Composite Index gained 1.3%.
European stocks demonstrated moderate strength in light pre-holiday trading. The U.K.'s FTSE 100 Index increased by 0.4%, and France's CAC 40 Index edged up by 0.1%. Meanwhile, the German markets were closed for the day.
In commodities, crude oil futures are up $0.53, reaching $69.77 a barrel after declining $0.22 to $69.24 a barrel on Monday. Conversely, gold futures, which dropped $16.90 to $2,628.20 an ounce in the previous session, are slightly down by $1.30 to $2,626.90 an ounce.
In the currency market, the U.S. dollar is trading at 157.15 yen, slightly down from Monday's close of 157.17 yen in New York trading. Against the euro, the dollar is currently valued at $1.0395, slightly lower than the previous session's $1.0405.
The material has been provided by InstaForex Company - www.instaforex.com