Investors Look for the Next Market Catalyst

Markets are taking a breather this morning after Monday’s rebound in technology shares lost momentum. Investors appear to be reassessing growth prospects and valuations across the AI sector ahead of the start of earnings season, leaving equity markets searching for fresh direction.

That cautious tone carried through overseas trading overnight. With commodity markets offering little conviction and no major economic data or earnings reports on today’s calendar, investors appear content to wait for the next catalyst before making significant moves.

There are no major economic or earnings reports so far this morning. NASDAQ futures are down 0.9%, while Dow futures are up 0.3%. In Asia, the Nikkei fell 2.1% and the Hang Seng slipped 0.5%. In Europe, the DAX is down 0.7%, while the FTSE is up 0.5%.

Crude Oil is up 0.7%, Gasoline is down 1.6%, Gold is up 0.2%, Copper is steady, and Silver is down 0.5%.

The US 10-year treasury note yield is steady near 4.50%, while the US 30-year treasury note yield is steady near 5.00%. The US Dollar is quiet today, while the Euro and Loonie are both steady.

The next notable scheduled news event is the Reserve Bank of New Zealand interest rate decision on Wednesday morning, where the central bank is expected to raise its benchmark interest rate by 0.25% to 2.25%.

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