(March 2) U.S. stock futures traded lower in early pre-market trade after the Dow Jones climbed more than 600 points in the previous session.
Futures for the Dow Jones Industrial Average fell 14 points to 31,495.00 while the Standard & Poor’s 500 index futures fell 4.75 points at 3894.00. Futures for the Nasdaq 100 index fell 20.50 points to 13,259.25.
*Source From Tiger Trade, EST 07:44
U.S. Market Yesterday:
U.S. equities began March on a strong note on Monday with the S&P 500 up 2.09%, the Dow Jones Industrial Average adding 2.17% and the tech-heavy Nasdaq Composite jumping just over 2%.
*Source From Tiger Trade
There are some key events to watch this week:
- U.S. Federal Reserve Beige Book is due Wednesday.
- OPEC+ meeting on output Thursday.U.S. factory orders, initial jobless claims and durable goods orders are due Thursday.
- The February U.S. employment report on Friday will provide an update on the speed and direction of the nation’s labor market recovery.
Latest News:
1) Nio Inc reported a wider-than-expected loss for its fourth quarter, but issued strong revenue guidance for the first quarter. The EV maker also announced a month-over-month drop in deliveries for February.
2) XPeng Inc. confirmed media reports regarding new low-priced versions of its vehicle line-up, armed with lithium phosphate battery. Separately, the company reported a sharp month-over-month decline in deliveries.
3) Zoom Video Communications Inc reported better-than-expected results for its fourth quarter and issued strong earnings guidance.
4) Square Inc. has officially commenced banking operations, nearly a year after receiving conditional approval to operate a bank.
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