Dow Jones futures steady as traders adopt ahead of US PMI data.
US S&P Global Manufacturing and Services PMIs are expected to ease in September.
Wall Street hit fresh record highs on Monday, driven by gains in megacap tech stocks.
Dow Jones futures remain steady near 46,700 during European hours on Tuesday, ahead of the United States (US) regular opening. Meanwhile, the S&P 500 futures hold near 6,750, while Nasdaq 100 futures remain close to 25,000.
US index futures were little changed on Tuesday as traders adopt caution ahead of the preliminary reading of the US S&P Global Purchasing Managers Index (PMI) data for September later in the day, along with awaiting US Federal Reserve (Fed) Chair Jerome Powell’s speech to gain further cues on policy outlook. Attention will shift toward the August Personal Consumption Expenditures (PCE) Price Index data, the Federal Reserve’s preferred inflation gauge, which is expected to signal subdued price pressures.
Wall Street notched another record-setting rally on Monday, with the three major averages closing at all-time highs amid megacap tech gains. The Dow Jones climbed 0.14%, with the S&P 500 and Nasdaq Composite adding 0.44% and 0.7%, respectively, with both marking their third consecutive session of record highs.
US stocks gained after Nvidia shares surged nearly 4% on news that the chipmaker will invest $100 billion in OpenAI to expand data centers. Meanwhile, Oracle climbed 6.3% on leadership changes. Apple advanced 4.3% on robust demand for the iPhone 17, while Tesla rose 1.9% to new 2025 highs. Still, traders remain cautious about whether the AI rally can keep driving markets, especially amid concerns over elevated valuations.
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