Valuation Concerns Could Temper Momentum
The major U.S. index futures are pointing to lower opening on Tuesday, with sentiment reflecting nervousness of traders about the overbought levels. On Monday, the Dow Industrials and the S&P 500 Index hit fresh closing highs, while the Nasdaq Composite scaled a 15-year peak. With the monetary policy outlook ever so uncertain, traders may seek more convincing catalysts for the upward momentum to be sustained. Across the Atlantic, the mood turned negative after a positive start. The mood in the domestic markets may largely depend on the monthly sales results of the U.S. automakers and some earnings reported ahead of the market open.
3/3/2015 12:09:07 PM After ending the previous session sharply higher, stocks have shown a significant move back to the downside during trading on Tuesday. The major averages have moved steadily lower for much of the session, sliding firmly into the red.