Investing.com -- U.S. stock futures edged higher Tuesday, as bond yields retreated ahead of the release of quarterly earnings from some major tech companies.The benchmark 10-year Treasury yield has continued to drop Tuesday, falling back to 4.835% and easing the pressure on the highly-leveraged tech sector, in particular.
Bill Ackman's hedge fund Pershing Square Capital Management has covered its bond short position, the billionaire investor posted on Monday, saying it was too risky to remain short bonds at current long-term rates. The earnings season kicks into top gear this week, with around 30% of S&P 500 companies slated to report.About 17% of S&P 500 companies have already reported earnings, and three-quarters of them have posted earnings surpassing analysts’ expectations, according to FactSet.Investors will also be keeping an eye on the release of flash U.S. PMIs, providing clues on the economic picture ahead of the Federal Reserve’s policy-setting meeting next week.came in at 50.
However, the situation remains highly fluid with the market seemingly divided over whether the conflict will continue to ease from here or flare up again.industry group releases its latest estimate of U.S. inventories later in the session, and crude stockpiles were expected to have risen last week, while distillate and gasoline inventories fell.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.
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