The Dow Jones Industrial Average trades near 52,900, roughly 190 points lower, in the first session since Friday. Crude Oil has risen for six days running and the two-year Treasury yield sits at its highest since January 2025. Neither is an equity story by itself.
National Bank of Canada's (NBC) Stéfane Marion and Kyle Dahms note that the US Dollar (USD) has weakened broadly in Q3 even as the United States (US) economy remains at full employment.
Dow Jones futures fall by 0.92% to trade near 52,950 during European hours on Tuesday. Meanwhile, S&P 500 futures decline by 0.41% to trade below 7,700, while Nasdaq 100 futures lose 0.24% to trade below 29,500.
The US Dollar (USD) recovers its early losses and turns marginally positive during the European trading session on Tuesday. At press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades marginally higher to near 98.95.
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, remains under some selling pressure for the second straight day and drops to an over two-week low during the Asian session on Tuesday.