Stock market today: Live updates

[Pelican Press 0]

Stock market today: Live updates

Traders work on the floor of the New York Stock Exchange (NYSE) on March 20, 2024 in New York City. 

Spencer Platt | Getty Images

U.S. stock futures traded near the flatline Monday night, after the major averages took a breather from their rally.

Dow Jones Industrial Average futures inched up just 17 points, or 0.05%. Futures tied to both the S&P 500 and Nasdaq-100 added 0.1% each.

The three major averages ended Monday lower. The 30-stock Dow dipped 0.4%, while the S&P 500 and Nasdaq Composite fell around 0.3% each. The pullbacks come on the back of last week’s strong gains, during which the indexes reached new all-time closing high levels.

Month to date, the major U.S. stock benchmarks are on pace for their fifth straight month of gains. The broad market index is up more than 2% in March,. The Nasdaq Composite is toting a 1.8% advance for the *******, while the Dow is up 0.8%.

Despite some concerns that the market rally has crossed into overbought territory, investors still can’t be underweight on equities as of now, according to 3Fourteen Research cofounder Warren Pies.

“There are a lot of people who are underweight or under-exposed to this market, and they’re going to scramble to get exposed,” Pies told CNBC’s “Closing Bell: Overtime” on Monday. “I think the combination of a soft landing, a Fed that has your back and under-invested strategists and institutions means that this rally can keep going.” 

More economic data releases are slated for Tuesday. March’s consumer confidence data will be released in the morning. Durable goods orders and the Richmond Fed’s manufacturing survey will also provide insight on the health of the manufacturing sector.

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