Stock futures slipped Tuesday as Wall Street continued analyzing which sectors to pour money into amid a postelection rally that’s sent equities to record levels. Futures tied to the Dow Jones Industrial Average lost 69 points, or 0.2%. S&P 500 and Nasdaq-100 futures each also ticked down about 0.2% each. Monday’s action comes amid a market upswing that began following last week’s presidential election won by Donald Trump. The Dow gained more than 300 points to close higher than 44,000, while the S&P 500 finished the session just over 6,000. With that, Monday marks the first time either finished a trading day above those respective levels. The Nasdaq Composite inched higher in the session, finishing at an all-time closing high for its fourth day in a row. Meanwhile, the small cap-focused Russell 2000 surged 1.5%. Beyond stocks, bitcoin soared to record levels above $89,000 on Monday. “The market is looking at the presidential election and whatever policies they think are going to be put in place,” said Larry Tentarelli, founder of the Blue Chip Daily Trend Report. “It’s a lot of what we saw back in 2016 when Trump won the election the first time.” Investors will watch Tuesday for economic data on small businesses due in the morning. They’ll also monitor commentary from Federal Reserve officials including Fed Governor Christopher Waller and Minneapolis Fed President Neel Kashkari scheduled throughout the day. Market participants will then turn attention to consumer and producer price index readings scheduled for later in the week. The release of data from these inflation gauges comes after the Fed last week announced another interest rate cut. U.S. Treasury yields jumped on Tuesday as investors continued to digest what President-elect Donald Trump’s election win could mean for interest rates, and awaited key economic data — including inflation — later this week. At 7:13 a.m. ET, the 10-year Treasury yield rose by more than 6 basis points to 4.371%. The yield on the 2-year Treasury rose by more than 7 basis points to 4.325%. Asia-Pacific markets fell Tuesday, with investors exercising caution even as U.S. stocks continued their postelection rally, with key benchmarks closing at record highs. Hong Kong’s Hang Seng index dropped 2.76%, while mainland China’s CSI 300 shed 1.1% to end at 4,085.74. Australia’s S&P/ASX 200 closed 0.13% lower at 8,255.6. South Korea’s Kospi fell by 1.94% to close at 2,482.57, while the Kosdaq Index dropped 2.51% to 710.52. Japan’s Nikkei 225 slipped 0.4% to close at 39,376.09. The Topix ended the trading day around the flatline at 2,741.52. Oil prices were little changed on Tuesday, awaiting further price direction from OPEC’s monthly report, while investor disappointment over China’s latest stimulus plan and oversupply concerns limited gains. Brent crude futures rose 38 cents, or 0.5%, to $72.21 a barrel. U.S. West Texas Intermediate crude futures were up 36 cents, or 0.5% at $68.40 a barrel. Gold prices dipped 1% to their lowest levels in nearly two months on Tuesday as the U.S. dollar soared ahead of economic data and comments from Federal Reserve officials that could shed light on the interest-rate path under the Trump administration. Spot gold was down 0.9% at $2,596.16 per ounce by 1057 GMT, after dropping 1% to hit its lowest since Sept. 20 at $2,589.59 earlier in the session. U.S. gold futures fell 0.6% to $2,602.40.
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