Wall Street futures advanced premarket Tuesday, signaling a positive outlook for the last trading day of the year. As investors prepare to close out the year, both the S&P 500 and Nasdaq showed favorable movements, climbing by 0.3%. Meanwhile, the Dow Jones also reported modest gains, increasing by 0.2%.
In the broader Asian markets, most indices closed lower, contrasting with the upward momentum seen in major European bourses, which rallied at midday. Early movers making headlines include MicroStrategy, which marked an impressive increase of 3.4% prior to the market opening. Another notable mention is MicroCloud Hologram, which continued its upward trajectory after an astounding surge of 167% on Monday.
As the day unfolds, Procaps Group and Scilex Holding stand out as companies expected to announce their quarterly earnings reports. This influx of earnings is anticipated to provide further insights into their performance amid a fluctuating economic landscape. On the economic calendar, crucial indices, including the S&P CoreLogic Case-Shiller home price index and the Federal Housing Finance Agency House Price Index, are scheduled to be reported at 9 AM ET, potentially influencing market sentiment as investors digest the data.
In premarket trading activities, Bitcoin was trading at an impressive $93,930.51, showcasing the cryptocurrency's volatility and increasing investor interest. Additionally, West Texas Intermediate crude oil demonstrated a slight increase of 0.8%, standing at $71.52, while the yield on 10-year US Treasuries hovered around 4.52%.
For investors eyeing precious metals, spot gold traded at $2,613.02 per ounce, reflecting ongoing adjustments in demand. The intricacies of these market movements reveal a multifaceted landscape that investors should closely monitor as the year draws to a close..