Trading on Wall Street was relatively listless early Tuesday following a third straight record-high close. Futures for the S&P 500 and Nasdaq each inched back 0.1% before the bell, while futures for the Dow Jones industrials were unchanged. Attention is largely focused on upcoming decisions from central banks, especially the U.S. Federal Reserve. Stocks have […]
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Wall Street quiet early following third straight record-high close
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Trading on Wall Street was relatively listless early Tuesday following a third straight record-high close.
Futures for the S&P 500 and Nasdaq each inched back 0.1% before the bell, while futures for the Dow Jones industrials were unchanged.
Attention is largely focused on upcoming decisions from central banks, especially the U.S. Federal Reserve. Stocks have surged since April on hopes that President Donald Trump’s tariffs won’t derail global trade and that the Fed will deliver several cuts to interest rates to boost the economy.
A speech from Fed Chairman Jerome Powell on Tuesday may also move markets. The Fed made its first cut of the year last week, and officials indicated more could arrive through the end of this year and into next. New data being released Friday will show how much prices are rising for U.S. households.
“A busier data docket awaits today, though in truth it will be remarks this evening from Fed Chair Powell that steal the limelight, in which Powell will, hopefully, clear up some of the confusion around having framed last week’s cut as a ‘risk management’ move,” said Michael Brown, senior research strategist at Pepperstone.
In early equities trading, shares in Kenvue Inc., the maker of Tylenol, rose nearly 6%, rebounding after hitting a record low on Monday when Trump promoted unproven and in some cases discredited ties between Tylenol, vaccines and autism. Kenvue disputed any link between the drug and autism. Trump’s statement appeared to rely on existing studies rather than any new research.
Shares of Walt Disney Co. inched up overnight after ABC announced that it will reinstate Jimmy Kimmel’s late night show, which will be back on the air Tuesday evening. Disney-ownd ABC suspened Kimmel’s show after affiliates complained about his comments related to the assassination of conservative activist Charlie Kirk. Disney shares were up less than 1% early Tuesday after declining three straight days following Kimmel’s suspension.
Boeing shares rose more than 2% after Uzbekistan Airways announced plans to acquire up to 22 of the aerospace manufacturer’s 787 Dreamliners. Investors also may be speculating, based on media reports, that a delegation of U.S. officials may be close to getting China to commit to a large order of Boeing planes.
Elsewhere, in Europe at midday, France’s CAC 40 gained 0.7% and Germany’s DAX edged up 0.3%. Britain’s FTSE 100 was unchanged.
Tokyo trading was closed for a national holiday. Elsewhere in Asia, Australia’s S&P/ASX 200 climbed 0.4% to 8,845.90. South Korea’s Kospi added 0.5% to 3,486.19.
Shares declined in China. Hong Kong’s Hang Seng slipped 0.7% to 26,159.12, as investors continued to watch ongoing talks about U.S. tariffs. The Shanghai Composite dropped 0.2% to 3,821.83.