Here’s what we’re watching as markets kick into gear Tuesday.
U.S. stock futures advanced, suggesting that the major benchmarks may extend their rally a day after closing at records. The S&P 500 has advanced over 15% this year, building on its 29% surge in 2019. Contracts on the Nasdaq-100 index signal that technology stocks will also gain on Tuesday. Read our full market wrap here.
What’s Coming Up. The S&P/Case-Shiller Home Price Indices readings for October, due to be released at 9 a.m. ET, will offer insights into the health of the U.S. housing market.
Market Movers to Watch
rose 6.1% premarket after the FDA gave emergency-use authorization for the company’s Covid-19 antibody test.
slid more than 37% before the bell after the company released test data for its Covid-19 vaccine candidate.
rose almost 3% premarket after it agreed to acquire Germany software firm Inposia Solutions.
The Nasdaq Composite Index hit its 55th record close of the year on Monday and has gained almost 44% this year.
Chart of the day
With stocks rising, some investors are borrowing against their investment portfolios to buy even more shares. Margin balances have hit their first record in more than two years.