Placeholder canvas
9.3 C
London
Thursday, February 29, 2024
HomeFinance NewsDecrease in Dow Jones Futures by 150 Points Preceding Housing Data; DraftKings...

Decrease in Dow Jones Futures by 150 Points Preceding Housing Data; DraftKings Surges After Upgraded Rating

Date:

Related stories

Rockstar Games ends remote work, blames leaks ahead of Grand Theft Auto VI release.

Rockstar Games, a division of Take-Two Interactive Software Inc.,...

Confusion Stirs as Labor Department Sends Email on Consumer Prices.

The US Labor Department's statistical agency sent out a...

House to vote on deal to end government shutdown and extend deadlines.

Lawmakers are pushing to pass a short-term government spending...

Top stocks to buy on Wall Street this Tuesday in 13 words or less

Wall Street analysts have been busy making significant calls...

Google Pixel 8 named ‘Best Smartphone’ at MWC 2023

In a remarkable achievement, Google's Pixel 8 series has...
spot_img

Dow Jones futures fell 150 points on Tuesday morning ahead of the release of key housing data. The decline in futures came amidst an analyst upgrade for DraftKings, which saw its stock rise by 3%. The housing data includes the Case-Shiller Home Price Index, the FHFA House Price Index, and new home sales from the Commerce Department. The Case-Shiller index was expected to rise by 0.6% in July compared to June, while new-home sales were expected to slow down in August. Additionally, consumer confidence data is also set to be released.

In other news, JPMorgan upgraded DraftKings stock from neutral to overweight, leading to a 3% rally in the company’s shares. On the other hand, Dow Jones tech giants Apple and Microsoft saw their stock prices drop ahead of the stock market open. As for earnings reports, Cintas and Thor Industries were among the companies reporting their quarterly results. THO stock declined after the recreational vehicle maker beat expectations, but offered a lukewarm outlook.

The overall market showed a decline in futures, with Dow Jones futures falling 0.5%, S&P 500 futures losing 0.55%, and Nasdaq 100 futures dropping 0.6%. This comes as the 10-year U.S. Treasury yield retreated slightly from its long-term highs and oil prices dropped by 1%. Despite the decline in futures, the Dow Jones Industrial Average managed to inch higher on Monday, snapping a four-day losing streak. The S&P 500 and Nasdaq composite also saw gains. However, there is no clear indication of a new rally attempt in the stock market, and investors are advised to read IBD’s The Big Picture column for guidance on how to handle the ongoing market weakness.

Source link

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

LEAVE A REPLY

Please enter your comment!
Please enter your name here