Investors are bracing for a heavy slate of data on Tuesday, headlined by a delayed data deluge of retail sales and employment costs that will serve as a critical compass for the Federal Reserve's interest rate path.
Meanwhile, on Monday, President Donald Trump acknowledged that his 2017 decision to pass over Kevin Warsh for Federal Reserve Chair was a "really big mistake," attributing the move to pressure from his former Treasury Secretary.
The 10-year Treasury bond yielded 4.18%, and the two-year bond was at 3.48%. The CME Group's FedWatch tool‘s projections show markets pricing an 82.3% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.
Index
Performance (+/-)
Dow Jones
0.13%
S&P 500
0.18%
Nasdaq 100
0.15%
Russell 2000
0.26%
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 higher in premarket on Tuesday. The SPY was up 0.23% at $695.56, while the QQQ advanced 0.26% to $615.91.
Stocks In Focus
Credo Technology Group
Credo Technology Group Holding Ltd. (NASDAQ:CRDO) jumped 16.89% in premarket on Tuesday, following its preliminary third-quarter earnings. It expects to report revenue in the range of $404 million to $408 million, up from prior guidance of $335 million to $345 million.
CRDO maintains a weaker price trend over the short and medium terms but a strong trend in the long term with a solid growth ranking, as per Benzinga's Edge Stock Rankings.
Koninklijke Philips
Koninklijke Philips NV (NYSE:PHG) gained 6.01% after posting upbeat results for the fourth quarter.
PHG maintains a stronger price trend over ...
