Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
US pre-open: Profit taking set to continue as data pulls focus
(Sharecast News) - US stock futures were pointing to a weak start on Wall Street on Tuesday as investors continued to treat cautiously in light of recent resilient data ahead of another busy few days for economic indicators.
Last week's revelation about a pick-up in PCE inflation along with stronger-than-expected activity in the US manufacturing sector has "cast doubt on expectations for a June rate cut [from the Federal Reserve]", according to Stephen Innes, managing partner at SPI Asset Management.
"US equity bulls may be forced into profit-taking mode as the second quarter begins, following the best start to the year since 2019," Innes said.
The Dow, S&P 500 and Nasdaq were all showing losses of around 0.3% to 0.4% by 0657 in New York, following a mixed session on Monday. The indices have risen strongly since the start of 2024, rising 4.9%, 10.6% and 11.0% respectively.
Looking ahead to Tuesday's agenda, we'll see US job openings data along with some closely watched speeches from numerous Fed members including New York and San Francisco Fed presidents John Williams and Mary Daly, respectively. Wednesday will see the release of the ADP employment report, followed by the all-important non-farm payrolls data on Friday.
"Doubts surrounding the extent of rate cuts by the Fed, coupled with caution ahead of key economic data releases during the early part of the month, including NFP and CPI, are dampening sentiment," Innes said.
In the corporate space, Tesla will be in focus ahead of its first-quarter report later on, with analysts expecting the electric car maker to report an 8% annual increase in deliveries to 457,000 units.
Tumultuous trading is expected to continue for Trump Media & Technology Group after the Truth Social parent's stock-market debut last week. The stock, which surged more than 30% in its first two days on the market, has now slumped below the $50 mark it debuted at, after the company revealed it lost $58m last year on just $4.1m of revenues.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.