US stock futures were mixed on Tuesday. Nasdaq 100 futures as well as S&P 500 futures were almost flat in premarket trading. Dow Jones futures slightly increased.
Nasdaq 100 Outlook
Global investors are eyeing the US CB Consumer Confidence which is due later in the day. The consumer confidence is the most important number for Fed policy makers. Investors are eyeing the numbers to gauge whether the Federal Reserve might rethink tapering its monetary policies earlier than expected.
The US Consumer Confidence for June is expected to jump from 117.2 to 119. The index reflects the expansion rate of the country’s economy.
The Nasdaq 100 index will react to the ADP Nonfarm Payroll later in the week. The new employment numbers are expected to reduce from 978,00 to 600,000.
Crude oil prices slipped ahead of the meeting to be held by the Organization of the Petroleum Exporting Countries (OPEC). The members forecast an oil supply deficit from August till the end of this year. Oil output prices had taken a nosedive last year due to the corona virus pandemic. However, oil prices have been on an upward trend amid economic recovery.
The transport sector is headed towards sooner than expected recovery. United Airlines announced the purchase of 270 narrow body jetliners from Boeing and Airbus. The airline also announced the employment of 25,000 employees for the new planes.
The airline has decided to improve its comfort. It announced its plans to add more roomier seats and seat-back entertainment. This will attract many travelers and hence will push the firm’s revenue higher. This will be the airline’s largest order ever.
Boeing was among the companies that gained in premarket trading. The company’s stock prices were up after the United Airlines made the biggest order of jetliners from the company. It was among the gainers in the Nasdaq 100 index.
Facebook was also up in the premarket trade. The company spiked on Monday. It surged surpassing its $1 trillion mark in market value.
On the flipside, Herman Miller lost more than 1.73% in its stock earnings. The company recorded quarterly profits of 56 cents per share surpassing consensus estimate of 36 cents per share.