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AND THEN IT WAS TUESDAY: STOCKS SHUFFLE LOWER
Wall Street got off to a sluggish start on Tuesday, as investors run the gauntlet of Fed speakers while keeping an eye on the Trump tax bill currently snaking its way through the chambers of Congress.
With no macroeconomic indicators to speak of, all three major U.S. stock indexes are dipping into the red from the starting gate, with tech .SPLRCT weakness weighing heaviest on the Nasdaq .IXIC. The S&P 500 .SPX stands to snap a six-session winning streak.
Chips .SOX and megacap momentum stocks .NYFANG are underperformers, while utilities .SPLRCU are leading S&P 500 sector gainers.
Home Depot's HD.N delivered a consensus-beating earnings report driven by solid demand, and maintained its annual sales and profit forecasts, which helped boost the home improvement retailer's stock 1% higher.
Even so, the Philadelphia SE Housing index .HGX is off about 0.5%.
Home Depot's plans not to raise prices in response to the Trump tariffs stands in contrast to Walmart's WMT.N announcement that it will hike prices starting at the end of this month, which prompted the U.S. President to demand that the retailer "eat the tariffs."
A gaggle of Fed speakers are on the roster today, with Atlanta Fed President Raphael Bostic, Richmond Fed President Thomas Barkin, Boston Fed President Susan Collins, St. Louis Fed President Alberto Musalem, Fed Governor Adriana Kugler and San Francisco Fed President Mary Daly, and Cleveland Fed President Beth Hammack all expected to have their say.
Market participants are sure to parse their words for clues regarding the path forward for central bank's monetary policy.
Here's where things stood as of 09:42 a.m. EDT:
(Stephen Culp)
TUESDAY'S EARLIER LIVE MARKETS POSTS:
S&P 500 INDEX STREAKING TOWARD ITS HIGHS CLICK HERE
EUROPE: SHORT COVERING RALLY ON ITS WAY? CLICK HERE
EUROPEAN TELCOS AT A STRUCTURAL INFLECTION POINT CLICK HERE
FORGET THE DOWNGRADE: "PERFECT WEEKS" FLASH BULLISH SIGNAL CLICK HERE
WHAT IF THE JUNE ECB CUT IS THE LAST ONE? CLICK HERE
EUROPEAN SHARES MUTED, UTILITIES LEAD CLICK HERE
EUROPE BEFORE THE BELL: FUTURES SIGNAL HIGHER OPEN CLICK HERE
MARKETS MOODY AS TRADERS LOOK FOR TRADE DEALS CLICK HERE