On Tuesday, American stock futures slumped, with the Dow industrials compensating part of Monday’s 229-point revenue.
Market participants are set to digest the newly released readings on the housing market as well as consumer confidence.
Dow Jones Industrial Average futures sagged by to 16,487. Meanwhile, the S&P 500 futures lost up to 6.05 points, trading at 1,930.25. As for the Nasdaq 100 futures, there was a 0.5% decrease to 4,195.50.
The Dow finished higher by 228.67 points on Monday, while the Nasdaq and S&P acquired 1.5% and 1.4% respectively. On Monday, shares benefited from a 6% bounce by oil futures, though crude dipped 2% on Tuesday.
Many analysts think that the factors, which weighed on shares this year haven’t faded away yet. Market participants should take into consideration that fears over decreasing global growth from various dimensions are still present in the background. Furthermore, oil’s short-term surges only give a solid foundation for extra declines, which will pressure stocks. Today, traders have to work in an age of negative interest rates, illustrating the negative health of the economic landscape, while the Fed’s hesitance to respect its pledge to increase American rates should keep market participants alert for what the nearer future holds.