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U.S. stock futures were mixed in early trading, with the dollar testing a two-year high as investors cautiously approached the last holiday-shortened trading day of the year.
The market is scheduled to close at 1 p.m. ET today and will remain closed Wednesday as part of Wall Street's traditional Christmas festivities.
Stocks ended solidly higher on Monday, with the S&P 500, the broadest benchmark for blue-chip stocks, gaining 0.73%, helped by solid gains in mega-cap tech stocks that offset declines in U.S. Treasuries.
The yield on the benchmark 10-year note briefly touched 4.6% in Monday trading and was last at 4.597% heading into the opening of New York markets. This also came after a strong auction for $69 billion in two-year bonds with strong international participation. Foreign investors.
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Rising U.S. Treasury yields, with the two-year yield pegged at 4.343% in overnight trading, pushed the U.S. dollar index up 0.17% against a basket of global peers, near its highest since late 2022. It became 108.174.
However, stocks are likely to remain subdued in short-term trading today as pre-market volume is low and the majority of European markets are completely shut down for the region's traditional Christmas Eve celebrations. .
On Wall Street, futures contracts tied to the S&P 500 suggest the opening bell will be slightly higher by 5 points while the Dow Jones Industrial Average is down 7 points. Meanwhile, the Nasdaq is priced in for a 34-point rise.
usa steel (×) The company's stock fell 3.4% in the pre-market, notable after the Committee on Foreign Investment in the United States failed to reach an agreement on Nippon Steel's proposed takeover of the group, leaving the final decision to President Joe Biden. It became a fast-moving stock.
Other Wall Street Analysts:
In Europe, the regional benchmark Stoxx 600 index rose 0.42% in Frankfurt, while Britain's FTSE 100 index rose 0.53% in thin trading in London.
In Asian markets overnight, Japan's Nikkei Stock Average fell 0.32% in Tokyo, while the MSCI (ex Japan) benchmark closed 0.35% higher.
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