"The futures are mixed on Tuesday after traders kicked off the holiday-shortened trading week with a massive Monday rally, with all major indices finishing the day higher. A combination of an oversold market, a big bounce-back rally on Friday that saw follow-through on Monday, and some positive AI/Data Center/Hyperscaler commentary to help counterbalance the concerns over massive AI spending and the debt that is being piled up as a result."
"Yields were down across the curve as more buyers stepped in on Monday, and once again, some encouraging talking points from yet another Fed Governor were the tailwind for the buying on Monday. Christopher Waller again advocated for another rate cut. He continues to see tepid inflation, which has hovered near the same levels most of the year, and also considers a job market that is struggling and could use a rate-cut boost."
Futures were mixed Tuesday after a holiday-shortened week began with a Monday rally that lifted major indices. The Dow closed at 46,448 (+0.43%), the S&P 500 at 6,705 (+1.55%), and the Nasdaq at 22,872 (+2.69%). The rally reflected an oversold market, a Friday bounce, and positive AI/Data Center/Hyperscaler commentary despite concerns about rising AI spending and debt. Volume is likely to decline ahead of Thanksgiving, with markets closed Thursday and closing early Friday at 1 PM EST. Treasury yields fell as buyers stepped in and Fed Governor Christopher Waller advocated another rate cut. Oil and energy prices rose on hopes lower rates would boost fuel demand amid lingering geopolitical risks.
Read at 24/7 Wall St.
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