The stock market saw a decline in major indexes on Tuesday as investors awaited jobs data from the Labor Department. One notable move was GameStop giving back some of its gains after a significant rise on Monday.
Before the market opened, Dow Jones futures were down by 0.2% while S&P 500 futures lost 0.3%. The Nasdaq 100 futures also saw a decline of 0.2% in premarket trading. Meanwhile, the 10-year Treasury yield dropped slightly to 4.36% and oil prices fell with West Texas Intermediate futures trading around $72.90 a barrel.
The Invesco QQQ Trust and the SPDR S&P 500 ETF both experienced decreases in trading, with the former dropping 0.2% and the latter declining by 0.3%. GameStop’s stock was volatile during morning trading, losing nearly 3% following Monday’s substantial gains.
In other news, Intel saw a 1.9% increase in its stock price after announcing a new artificial intelligence chip. Earnings movers included Core & Main, Donaldson, and GitLab.
Looking ahead, the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) was set to be released, with expectations of a slight decrease in job openings compared to the previous month. Furthermore, companies like Microsoft, Apple, and Merck were among those to watch in the stock market today.
Despite the mixed performance of the stock market, it’s crucial for investors to stay informed about changing market conditions and adjust their strategies accordingly. This can help navigate the uncertainties of the market and identify potential opportunities for growth.
