On Tuesday morning, US equity futures displayed minimal movement as traders adopted a cautious stance ahead of the upcoming New Year holiday, which will see the US markets close on Wednesday. The Dow Jones Industrial Average futures, S&P 500 futures, and Nasdaq futures each recorded a slight uptick of 0.2%, indicating traders are refraining from making significant investment decisions on this last trading day of 2024.
As market participants weigh their options, the oil market reflected a steady state with prices nearly unchanged. The front-month global benchmark, North Sea Brent crude, dipped slightly by 0.05%, settling at $73.97 per barrel, while the US West Texas Intermediate crude saw a marginal rise of 0.06%, priced at $71.04 per barrel.
A notable economic indicator to watch today is the Case-Shiller Home Price Index, scheduled for release at 9 am ET. This data is crucial for assessing the health of the housing market and its implications for broader economic trends. As investors prepare for the New Year, market dynamics could shift based on incoming data and the prevailing economic environment..