In Tuesday's outlook for the U.S. market, attention will focus on major stock indexes as they attempt to recover from Monday's declines, as well as reports concerning Amazon's lawsuit, earnings trends among major stocks, rising oil prices and long-term Treasury yields.
U.S. stocks fell on Monday after Amazon was sued by the government over alleged manipulation of advertising prices, but reports indicate that the market will attempt to recover on Tuesday while remaining affected by the news. Some stocks continued to decline following Marvell Technology's results. Other leading technology stocks, including AppLovin, Nebius Group and Oracle, also fell during the same period.
Overall, the major indexes were weak, with the Dow Jones down 0.7%, the S&P 500 down 0.3% and the Nasdaq Composite down 0.1%. Ahead of Tuesday's trading session, attention is also focused on earnings announcements from MDT, NIO and RZLV, with their movements before and around the market open expected to be a key focus.
After the earnings announcements, the market is expected to watch the reported figures from Palo Alto Networks, Dell Technologies, Credo Technology Group Holding and MongoDB, among others. Crude oil futures rose approximately 3% on Monday, while U.S. long-term Treasury yields rose at one point to a 21-month high, with energy-related concerns and inflationary pressure cited as possible factors.
Points to watch today include earnings announcements after the market close and movements in crude oil and long-term interest rates, along with additional information on MDT, NIO and RZLV and the performance of other stocks.