Following the weakness seen in the previous session, stocks may show a lack of direction in early trading on Tuesday. The major index futures are currently pointing to a roughly flat open for the markets, with the S&P 500 futures down by less than a tenth of a percent.
Traders may be reluctant to make significant moves ahead of the release of the minutes of the Federal Reserve's latest monetary policy meeting this afternoon.
The minutes of the Fed's December meeting, when the central bank decided to lower interest rates by another quarter point, may provide further insight about officials' divergent views about the likelihood of further rate cuts in the new year.
While the Fed is widely expected to leave interest rates unchanged at its next meeting in late January, rates are expected to be at least another quarter point lower by the end of 2026, according to CME Group's FedWatch Tool.
On the heels of the Christmas holidays last week, some traders may also remain away from their desks ahead of the New Year's Day holiday on Thursday.
Shortly after the start of trading, MNI Indicators is due to release its report on Chicago-area business activity in the month of December.
The Chicago business barometer is expected to rise to 39.5 in December from 36.3 in November, but a reading below 50 would still indicate contraction.
After turning in a strong performance last week, stocks moved mostly lower during trading on Monday. The major averages all moved to the downside, although selling pressure was somewhat subdued.
The major averages ended the day well off their worst levels but still in negative territory. The Dow fell 249.04 points or 0.5 percent to 48,461.93, the Nasdaq slid 118.75 points or 0.5 percent to 23,474.35 and the S&P 500 declined 24.20 points or 0.4 percent to 6,905.74.
In overseas trading, stock markets across the Asia-Pacific region turned in another mixed performance during trading on Tuesday. Japan's Nikkei 225 Index shed 0.4 percent, while Hong Kong's Hang Seng Index advanced by 0.9 percent.
Meanwhile, the major European markets have all moved to the upside on the day. While the French CAC 40 Index is up by 0.5 percent, the German DAX Index and the U.K.'s FTSE 100 Index are both up by 0.6 percent.
In commodities trading, crude oil futures are rising $0.25 to $58.33 a barrel after surging $1.34 to $58.08 a barrel on Monday. Meanwhile, after plummeting $209.10 to $4,343.60 an ounce in the previous session, gold futures are jumping $56.80 to $4,400.40 an ounce.
On the currency front, the U.S. dollar is trading at 156.11 yen compared to the 156.04 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is trading at $1.1757 compared to yesterday's $1.1772.
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Business News
December 26, 2025 08:42 ET Third quarter economic growth data from some major economies including the U.S. were the main news in this holiday shortened week. GDP growth and industrial production data from the U.S. helped to boost morale, while the consumer confidence survey results were less upbeat. In Europe, the quarterly economic growth data from the U.K. drew attention, while the minutes of the Australian central bank’s latest policy session was in focus in Asia.