By Caitlin McCabe
U.S. stocks are poised for a potential pullback Wednesday, a day after the S&P 500 closed at its 41st record of the year. Big tech stocks are taking some pain, with Tesla and Broadcom each down more than 1% premarket.
Outside the U.S., the picture was mixed. Chinese shares climbed again after China's central bank added another rate cut to its stimulus blitz. But the picture wasn't quite as cheery in Europe, where a fall in SAP shares weighed on German and broader European indexes. Bloomberg reported that the German software company was under investigation by the Justice Department for potential price fixing.
In recent trading:
--U.S. stock futures slipped. On Tuesday, all three stock major indexes rose, with the Dow advancing for a fourth consecutive session.
--U.S. Treasury yields ticked up, after the 10-year yield settled Tuesday at 3.736%.
--Chinese shares extended their rally after China's central bank delivered another policy rate cut. The Shanghai Composite finished up 1.2%.
Coming up:
--A readout on new U.S. home sales is due 1000 ET.
--Earnings from chip maker Micron are slated for the afternoon.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
September 25, 2024 06:02 ET (10:02 GMT)
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