Consolidation Likely Ahead of Next Trading Trigger
The major U.S. index futures are pointing to a lower opening on Tuesday, with sentiment suggesting nervousness following the gains of the recent sessions. Earlier today Asian stocks closed higher amid the Australian central bank’s decision to hold interest rate unchanged. European stocks are also higher following a jittery start. A domestic economic report released short while ago showed that the trade deficit widened roughly in line with expectations. PepsiCo.’s better than expected results could set a positive tempo to the unfolding third quarter reporting season. Against this backdrop, some moderation in momentum is likely.
10/6/2015 4:23:29 PM Following the rally seen in the previous session, stocks moved mostly lower during trading on Tuesday. The Nasdaq and the S&P 500 ended the day in negative territory, although the Dow managed to close modestly higher.