Stock Futures Point to a Rebound from Losing Streak: Stock Market News Today

Stocks were poised to make a comeback on Tuesday after a string of losing days, as investors waited for key data to land to provide insight into the US economy.

S&P 500 (^GSPC) futures were up around 0.2%, while Dow Jones Industrial Average (^DJI) futures traded just above the flat line with gains of about 20 points, or less than 0.1%. Futures for the Nasdaq Heavy Composite (^IXIC) rose 0.4%.

The more optimistic tone comes after the Dow on Monday posted its sixth straight day of declines, while the Nasdaq’s decline added to losses in five of the past six sessions.

All eyes will be on the latest developments on home sales, durable goods and consumer confidence on Tuesday, in a big week for economic data. Markets are watching how the US economy holds up, as concerns about the Federal Reserve raising interest rates resurfaced, sending it into recession.

Markets are on the lookout for any factor that could influence the central bank’s thinking ahead of its July meeting. In particular, they are watching for signs of resilience as concerns about a recession sparked by the Fed’s rate hike campaign re-emerge.

There could be a reasonable amount of buying and selling in the markets this week, which falls on the final days of the first quarter and half of 2023, as investors rebalance their asset allocations.

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