U.S. stock futures pared earlier gains on Tuesday after Monday’s higher close. Futures of major benchmark indices were lower.
On Tuesday, investors await a wave of economic data, including delayed reports on third-quarter GDP and durable goods, alongside updates on industrial production and December’s consumer confidence.
Meanwhile, in the truncated week, trading will be closed on Thursday following an abbreviated session on Wednesday, with equity markets closing at 1:00 p.m. ET and bond markets at 2:00 p.m. ET.
Meanwhile, the 10-year Treasury bond yielded 4.15%, and the two-year bond was at 3.50%. The CME Group's FedWatch tool‘s projections show markets pricing an 80.1% likelihood of the Federal Reserve leaving the current interest rates unchanged.
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Tuesday. The SPY was down 0.019% at $684.70, while the QQQ declined 0.058% to $618.85, according to Benzinga Pro data.
