US equity futures exhibited minimal changes before the market bell on Tuesday, as investor sentiment began to stabilize following the significant losses from the prior session, which had been fueled by rising fears of a potential US recession. The Dow Jones Industrial Average futures showed a slight decrease of 0.04%, while S&P 500 futures were down by 0.02%.
In contrast, Nasdaq futures demonstrated a slight gain, increasing by 0.01%. In a media interview over the weekend, President Donald Trump emphasized the possibility that the US economy might be on the brink of entering a recession as early as 2025. This statement has incited further caution among investors.
Oil prices displayed upward movement, with the global benchmark North Sea Brent crude rising by 1.1% to $70.04 per barrel. Simultaneously, US West Texas Intermediate crude increased by 1%, reaching $66.73 per barrel. The Bureau of Labor Statistics is set to release its Job Openings and Labor Turnover Survey at 10 am ET, which is projected to indicate job openings of 7.65 million for January, a slight increase compared to the 7.6 million recorded in December, as per estimates gathered by Bloomberg.
In other global market movements, Japan's Nikkei concluded the trading day down by 0.6%, while Hong Kong's Hang Seng index finished marginally lower at 0.01%. Conversely, China's Shanghai Composite managed to close with a gain of 0.4%. In the UK, the FTSE 100 fell by 0.5%, whereas Germany's DAX index experienced a modest gain of 0.2% during the early afternoon session in Europe.
Focusing on equities, Sonoma Pharmaceuticals saw its stock soar by 54% following the announcement of obtaining UK regulatory clearances for specific wound care and dermatology products. Meanwhile, LifeMD's stock surged by 19% the day after the company revealed an increase in its Q4 adjusted earnings and revenue.
On the flip side, Kohl's stock plummeted by 16% after reporting disappointing fiscal Q4 adjusted earnings and revenue. Similarly, Arvinas' shares encountered a sharp decline of 36%, following disclosures alongside Pfizer regarding their phase 3 trial of vepdegestrant for breast cancer treatment, which failed to achieve statistical significance in improving progression-free survival within the treated population..