US futures fell slightly on Tuesday morning, continuing the slow trend seen over the past week. Futures on the Dow Jones Industrial Average (DJIA), S&P 500 (SPX) and the Nasdaq 100 (NDX) fell 0.34%, 0.39%, and 0.58%, respectively, as of 3:34 a.m. EST on February 20.
The three major US stock indexes concluded the previous week by reversing their five-week winning streak. The Nasdaq Composite saw the most significant drop, contracting 1.43%. Furthermore, the SPX and DJIA showed a moderate decline of 0.42% and 0.07%, respectively. The drop was triggered by the latest economic data, which raised concerns about a possible delay in the Federal Reserve's decision to cut interest rates this year.
At the time of writing, the 10-year US Treasury yield was declining, floating near 4.29%. Meanwhile, WTI crude oil futures trended higher, hovering around $79.43 per barrel at last check due to persistent geopolitical tensions in the Middle East.
In terms of earnings, investors are likely to focus on Walmart's reports (WMT) and Home Depot (High Definition) to be published today, to obtain information on consumer spending patterns. Other companies expected to release quarterly numbers include Caesars Entertainment (CZR), Chesapeake Energy (CHK), diamond back (CANINE), Palo Alto Networks (PANW) and real estate income (oh).
European markets remained silent as traders evaluated various corporate earnings reports. Barclays (EN: BARC) reported a net loss of ยฃ111 million in the fourth quarter and announced plans to return ยฃ10 billion through dividends and share buybacks.
Additionally, investors are looking forward to the release of several key economic reports scheduled for Thursday, including the eurozone Purchasing Managers' Index (PMI) and final inflation figures.
Asia-Pacific markets close mixed on Tuesday
Asia-Pacific indices ended today's trading session on a mixed note. Perhaps investors are considering China's central bank's decision regarding key interest rates. The People's Bank of China implemented a 25 basis point reduction in the five-year lending prime rate, leaving the one- and five-year lending prime rates unchanged.
Hong Kong's Hang Seng Index rose 0.57%. Additionally, China's Shenzhen Composite Index and Shanghai Composite ended up 0.04% and 0.42%, respectively. Additionally, Japan's Nikkei and Topix indices closed down 0.28% each.
Interested in more economic knowledge? Tune in to our LIVE webinar.
