The US benchmark equity markets showed positive momentum in pre-open trading on Tuesday, indicating a favorable atmosphere as traders prepare for the concluding trading session of the fiscal year. The Standard & Poor's 500 index saw an increase of 0.3%, while the Dow Jones Industrial Average added 0.2%.
The Nasdaq composite registered a growth of 0.4% in this early trading activity. In contrast, the majority of Asian stock exchanges exhibited a downward trend, while European markets were generally performing well, showcasing mostly upward movements at midday. It is important to note that US financial markets will remain closed on Wednesday in observance of New Year's Day, with a reopening scheduled for Thursday.
On the economic front, notable reports were scheduled for release including the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both pertaining to October, which were set to be unveiled at 9 am ET. Additionally, the farm prices report for November will be disclosed at 3 pm.
Among individual stocks, shares of MicroStrategy experienced a rebound, increasing by 3.7% prior to the market opening, following a significant decline of 8.2% during the previous trading session. In a noteworthy event, Nxu's shares surged an impressive 45% after the company announced a secondary offering of up to 114.5 million shares.
On the downside, Energous saw its share price drop by 44%. Before the market opened, the value of Bitcoin fell by 0.4%, settling at $94,058. Meanwhile, West Texas Intermediate crude oil prices experienced a slight gain of 0.8%, reaching $71.55 per barrel. The yield on 10-year Treasury notes dropped by 2.2 basis points, now positioned at 4.52%, and gold traded with a modest increase of 0.2%, priced at $2,623 per ounce..