Nasdaq Index, Dow Jones, S&P 500 News: Investors Eye Fifth Consecutive Winning Month

Quest for Record Highs Lead to Morning Rally

U.S. stock futures surged higher on Tuesday morning as investors aimed to resume the rally that recently drove equities to record highs. Following a slight decline in the previous session, the market’s momentum appeared poised for a rebound.

On Tuesday at 11:29 GMT, Dow Futures are trading 39792.00, up 93.00 or +0.23%. S&P 500 Index Futures are at 5298.25, up 20.00 or +0.38% and Nasdaq-100 Index Futures are trading 18604.75, up 91.25 or +0.49%.

Pullbacks Follow Strong Gains

During Monday’s downturn, the three major averages closed lower with the Dow slipping 0.4%, while the S&P 500 and Nasdaq Composite each fell around 0.3%. These pullbacks followed a week of robust gains, during which all indexes reached new all-time closing highs.

Fifth Consecutive Winning Month

March continues to show strength for major U.S. stock benchmarks, with the broad market index up over 2% for the month. The Nasdaq Composite boasts a 1.8% advance, while the Dow is up 0.8%, positioning the market for its fifth straight winning month.

Market Sentiment and Investor Behavior

While concerns persist about the market potentially entering overbought territory, many investors remain bullish on equities. Market participants are scrambling to increase exposure, anticipating further gains fueled by a supportive Federal Reserve and under-invested strategists and institutions.

Upcoming Economic Data

Investor attention is focused on Friday’s release of the personal consumption expenditures price index (PCE), a critical inflation gauge for the Fed. Recent comments from Fed officials have hinted at potential interest rate cuts, adding to market uncertainty.

Delisting of Fisker Shares

In related news, the New York Stock Exchange announced plans to delist shares of electric vehicle manufacturer Fisker due to its low trading price. The company’s stock has plummeted amid failed deal negotiations and ongoing challenges.

Economic Data Releases

Tuesday brings a flurry of economic data releases, including consumer confidence data, durable goods orders, and the Richmond Fed’s manufacturing survey. These indicators will provide further insight into the health of the manufacturing sector and consumer sentiment.

Short-Term Forecast: Bullish

Amidst record highs and upcoming economic data releases, U.S. stock futures are on the rise. Despite recent pullbacks, market sentiment remains bullish, driven by expectations of continued support from the Federal Reserve and strong investor demand. Traders await key inflation figures and economic data releases for further market direction.

Technical Analysis

E-mini Dow Jones futures are edging higher on Tuesday, trying to rebound from a 2-day setback. A trade through 39853 could lead to a surge in intraday momentum, while a move through 39681 could trigger the start of a steep break.

Overall, it looks as if the Dow could become rangebound until it surges to a record high through 40316. On the downside, the major support is the uptrending 50-day moving average at 39146.