After the previous day's record highs, the New York Stock Exchange is set to open on a more cautious note on Tuesday morning, with a series of mixed corporate results dampening investor optimism.

Half an hour before the opening, the Dow Jones futures contract was down 0.2%, while the Nasdaq Composite contract advanced by almost 0.3%, pointing to an uncertain start to the session.

The markets seem to be struggling to define a clear trend under the shower of contrasting results published early this morning by a number of leading US companies.

Among the groups which published before the opening, 3M fell by more than 7% in pre-market trading after announcing an outlook deemed disappointing for 2024, against a backdrop of slowing demand.

Another Dow Jones heavyweight, Johnson & Johnson, is expected on a relatively stable note after unveiling lacklustre quarterly performances.

On the other hand, Verizon and Procter & Gamble are being hailed by investors, with both stocks up 4% and 3% respectively in pre-opening trading.

All in all, the mixed impression left by this salvo of results could prevent the major Wall Street indices from setting new record highs, while current valuation levels are considered to be stretched.

The US bond market is benefiting from the drop in risk appetite, and the yield on ten-year Treasuries is up three basis points, above 4.12%.

On the currency markets, the dollar resumed its upward trend against the euro two days ahead of the eagerly-awaited announcements by the European Central Bank (ECB), with the single currency sliding back into the 1.0870 zone against the greenback.

Crude oil prices are consolidating after the previous day's surge, with geopolitical tensions in the Red Sea not entirely eclipsing the risks of deteriorating global demand.

U.S. light crude (West Texas Intermediate, WTI) is currently down 1.2% at $73.8.

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