Traders work on the floor of the New York Stock Exchange (NYSE) on May 18, 2022 in New York City.
Spencer Platt | fake images
Stock futures fell early Tuesday as investors assess whether the rally on Wall Street can continue.
Futures linked to Dow Jones Industrial Average fell 61 points, or about 0.26%. S&P 500 futures and Nasdaq 100 Futures each of them decreased by approximately 0.2%.
Stocks made gains during regular trading on Monday, with big tech companies Nasdaq Composite obtaining its seventh consecutive positive session for the first time since January. Both S&P 500 and the 30 actions Dow They were higher for the sixth consecutive period, something not seen since June and July, respectively.
Wall Street is evaluating whether last week's rally holds. All three indices closed their best week in 2023 last Friday. November's rally is in direct contrast to a weak October in which the S&P 500 fell into correction territory. Investors turned optimistic after the Federal Reserve left interest rates unchanged following its meeting last week, which also saw Treasury yields fall and stocks rise.
However, investors should proceed with caution as stocks still have little basis to safely mount and sustain a new bull market, according to Lisa Shalett, chief investment and wealth management officer at Morgan Stanley.
"The next hike is coming, but it will require more than just the desire, belief or even reality of a first Fed rate cut," Shalett wrote in a note on Monday.
In terms of economic developments, a report on the US trade deficit is expected on Tuesday morning. Elsewhere, the quarterly results of disney, Hotels in Wynn and Western Oil They will be out this week.
