Tuesday night, as Wall Street awaited the most recent consumer price index data for clues about the rate of inflation, U.S. stock futures was trading close to the flatline.
Futures that were linked to the Dow Jones Industrial Average fell barely 0.1%, or 47 points. Both the Nasdaq 100 and S&P 500 futures saw a 0.1% decline.
During Tuesday’s primary trading session, the market paused its postelection surge, causing the major averages to decline.
On average, the 30-stock Dow dropped 382 points, or 0.9%. While the tech-heavy Nasdaq Composite edged down 0.1%, the S&P 500 fell 0.3%.
The market’s collapse in part Tuesday “is a little bit of profit-taking based on the strong gains — especially post election — and some of it may be just some positioning ahead of the election.”
Source (CNBC)
