US stock indexes were pointing to a higher opening on Tuesday, as traders looked of a few economic reports later in the day, together with some corporate earnings.
Wall Street stock indexes ended lower on Monday as political concerns weighed on market sentiment and motivated investors to take short positions. The trading session started mostly flat, with market players still trying to define a suitable course of action to surf the Trump era.
The Dow Jones industrial average was dragged more than 30 points to the south, with UnitedHealth on top of decliners. The Nasdaq composite and the S&P 500 also moved to the downside, easing a quarter of a percent as energy components dropped close to 1 percent.
Dow Jones Industrial Average: -0.09 percent / 20,052.42 points
Standard & Poor’s 500: -0.21 percent / 2,292.56 points
Nasdaq Composite: -0.06 percent / 5,663.55 points
US equities have been growing consistently since the November 8 election, when Donald Trump got elected as President of the United States. Investors have speculated on higher fiscal spending, deregulation and tax reforms. Although the new US administration seems to be focusing first on national security matters and international relations.
In domestic policy, the eyes are placed on Trump’s travel ban to seven muslim-majority countries. On Sunday, the 9th U.S. Circuit Court of Appeals in San Francisco denied a request from the Trump administration to suspend a temporary order issued by a federal judged, which partially stopped the implementation of the travel restrictions.
On Monday, the administration was due to present additional legal briefs to support the executive order to halt muslim immigration and the refugee program in front of the court.
No relevant reports were released on Monday. Later today, the government is presenting December’s read on the Trade Balance at 13:30 GMT. Analysts forecasted a reduction to -$45 billion from a previous -$45.20 billion. At 15:00 GMT, the US Bureau of Labor Statistics will publish JOLTs Job Openings for December, with expectations pointing at 5.568 million.