S&P futures exhibited a modest decrease on Tuesday morning, subsequent to the Dow Jones Industrial Average achieving a new all-time high. Dow futures registered a decrease of 25 points, equating to around 0.04%. Futures for the S&P 500 experienced a decline of 0.06%, while futures for the Nasdaq 100 saw a decrease of 0.2%. Investors are witnessing a sustained positive trend, indicating a second consecutive day of increases. The 30-stock Dow recorded a slight uptick of 0.04%, reaching new highs during the trading session as well as at the conclusion of the day. The S&P 500 recorded an uptick of roughly 0.5%, while the Nasdaq Composite noted a gain of 0.9%.

On Monday, technology equities experienced a significant rally, building on the gains observed on Friday and positively impacting the broader market performance. Investors demonstrate a positive outlook on the market’s capacity to sustain its upward trend, given that last week’s sell-off, largely influenced by apprehensions related to software and large-cap technology, did not materially affect the market from a technical standpoint.

Indeed, the S&P 500 has managed to recover support above its 50-day and 100-day moving averages, after dipping below them last week. Many asset classes are outperforming the index, which presents bullish signals from the perspective of traders. “We don’t think that it’s going to be a clean trade,” stated Sonali Basak. “The market will exhibit volatility; a discerning approach is essential, yet opportunities for success will emerge.”

The corporate earnings season continues, with Coca-Cola scheduled to announce its results before the market opens on Tuesday. Hasbro and Spotify are poised to unveil their financial results. The upcoming retail sales report is set to be published on Tuesday morning. Investors are bracing for the important jobs report due on Wednesday, as well as the consumer price index expected to be unveiled on Friday.