Stock market today: Live updates

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Stock market today: Live updates

Traders work on the floor of the New York Stock Exchange.

NYSE

U.S. stock futures hovered near the flatline Tuesday night following a winning session for the major averages.

Dow Jones Industrial Average futures fell by 13 points, or 0.03%. S&P 500 futures and Nasdaq 100 futures dipped 0.05% and 0.06%, respectively.

Wall Street is coming off a strong session for the major averages as tech stocks outperformed, and oil prices eased off their highs. The 30-stock Dow gained 126 points, or 0.3%. The S&P 500 rose nearly 1%, while the Nasdaq Composite rallied about 1.5%.

Those moves seem to reflect growing optimism the Federal Reserve can navigate a soft landing, especially after last week’s jobs report showed continued strength in the labor market. Artificial intelligence beneficiaries Nvidia and Broadcom rallied 4% and 3%, respectively.

“I think technology is going to reassert its leadership,” Keith Lerner, Truist Wealth co-chief investment officer, said Tuesday on CNBC’s “Closing Bell.” “The earning trends in tech is still the strongest in the market that we have. And I think we’ll see more of a rotation back into that area.”

“So, net-net, of course, we’re going to see some hiccups up along the way,” Lerner said. “But, in our view, the underlying trend is still one that moves up over time.”

Regardless, there could be further choppiness in what’s historically the most volatile month of the year, particularly just a few short weeks out from the U.S. presidential election. Oil prices dropped Tuesday, after rising earlier this month amid an escalation of conflict in the Middle East. Meanwhile, the 10-year U.S. Treasury yield has climbed back above 4%.

On the economic front, investors are anticipating the latest meeting minutes from the Fed on Wednesday, due at 2 p.m. ET. The September consumer and producer price index readings are due out Thursday and Friday, respectively.

Earnings season kicks off Friday with the big banks JPMorgan Chase and Wells Fargo.

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