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Dow Futures Eye Feeble Open, But is Bitcoin on the Verge of a Historic Recovery?
The US stock market appears doomed to make a weak entry into the week’s first trading session following Monday’s Presidents’ Day holiday, as the Dow and its sister indices are all forecasting opening bell declines. The bitcoin price, on the other hand, burst out of a prolonged period of stagnancy and has many investors questioning whether the cryptocurrency is on the front end of a new bull market.
Dow Futures Point South
As of 8:55 am ET, Dow Jones Industrial Average futures had lost 58 points or 0.22 percent, implying a loss of 46.25 points at the open. S&P 500 futures dropped 0.32 percent, and Nasdaq futures fell 0.29 percent to round out the US stock market’s weak pre-bell session.
Futures tracking the Dow Jones Industrial Average (blue), S&P 500 (red), and Nasdaq (orange) all traded down ahead of Tuesday’s open.
One exception to the stock market’s sluggish pre-market session was Walmart, which smashed analyst estimates on the back of 43 percent growth in e-commerce sales. Walmart shares climbed 3.45 percent before Tuesday’s bell.
Read the full story on CCN.com.
