Wall Street In the Doldrums Tuesday Morning

Posted by on Jun 10th, 2009 and filed under Markets. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

US stocks were looking for direction Tuesday morning in New York, as lingering concerns about the economy offset news that Texas Instruments has boosted its quarterly profit and sales outlook.

As of 6:15 am ET, the Dow Futures were down 11 points, the NASDAQ Futures were up 3 points, and the S&P Futures were down 1 points.

Stocks finished Monday’s session little changed, as some traders went bargain hunting in the afternoon following a morning sell-off.

While the Dow finished up by 1.36 or less than a tenth of a percent at 8,764.49, the NASDAQ dipped by 7.02 or 0.4 percent to 1842.40, and the S&P 500 fell 0.95 or 0.1 percent to 939.14.

With a relatively light day on tap for Tuesday, traders may pay a bit more attention to wholesale inventories figures for April set to be released from the Commerce Department. Economists expect inventories to decline 1.1 percent.

Some traders may look to the Treasury Department’s auction of $19.0 billion worth of three-year notes set to take place Tuesday afternoon. The bond market has been in focus recently, as the Fed’s quantitative easing moves have done little to slow rising yields, causing some concern among investors.

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