– The major U.S. index futures are pointing to a higher opening on Tuesday, with sentiment suggesting a modest rebound following the declines of the previous four sessions. Fundamental concerns still persist and therefore, a meaningful rebound is unlikely unless and otherwise Federal Reserve Chairman’s public address offer something very encouraging.

U.S. stocks languished below the unchanged line for the bulk of Monday’s session, with the selling intensifying in late trading. The lack of any major catalysts accentuated the already weak sentiment engendered by recent soft economic data and triggered another wave of selling pressure in the markets.

The Dow Industrials ended down 61.30 points or 0.50 percent at 12,090, while the Nasdaq Composite closed at 2,703, down 30.22 points or 1.11 percent and the S&P 500 Index receded 13.99 points or 1.11 percent before closing at 1,286.

Twenty-three of the thirty Dow components closed the session lower, with Bank of America (BAC) leading the Dow’s declines with a drop of about 4 percent. Alcoa (AA), Home Depot (HD), JP Morgan Chase (JPM), Chevron (CVX), Exxon Mobil (XOM) and Caterpillar (CAT) were among the other notable decliners.

Among the sector indexes, the Dow Jones Transportation Average fell 1.34 percent, the NYSE Arca Airline Index slipped 2.53percent, the Dow Jones U.S. Basic Materials declined 1.48 percent, the NYSE Arca Oil Index receded 1.99 percent, the Philadelphia Oil Service Index slumped 3.16 percent and the NYSE Arca Gold Bugs Index moved down 2.87 percent.

The NYSE Arca Biotechnology Index slipped 1.11 percent, the S&P Retail Index moved down 1.34 percent, the Philadelphia Housing Sector Index dropped 2.16 percent, the NYSE Arca Securities Broker/Dealer Index slid 1.97 percent and the KBW Bank Index declined 2.03 percent.

In the technology space, the NYSE Arca Disk Drive Index receded 2.77 percent, the NYSE Arca Internet Index slipped 1.51 percent and the NYSE Arca Networking Index fell 1.67 percent.

Currency, Commodity Markets

Crude oil futures are receding $0.64 to $98.37 a barrel after falling $1.21 to $99.01 a barrel on Monday. Gold futures are currently slipping $2.30 to $1,544.90 an ounce. In the previous session, the precious metal advanced $4.80 to $1,547.20 an ounce.

Among currencies, the U.S. dollar is trading at 80.2035 yen compared to the 80.101 yen it fetched at the close of trading on Monday. Against the euro, the dollar is valued at $1.4659 compared to yesterday’s $1.4575.

Asia

The major Asian markets ended Tuesday’s session on a mixed note, as sour economic outlook continued to haunt traders. The Japanese markets rebounded on the support lent by a weaker yen, while the Chinese, Indian and Taiwanese markets also advanced modestly. Meanwhile, the markets in Australia, New Zealand, South Korea, Singapore, Malaysia, Indonesia and Hong Kong closed modestly lower.

Similar Posts:

• Traders May Bid Up Stocks As Data Show Recovery Not At Risk
• Corporate News May Prove Supportive To Markets – RTTNews Daily Market Analysi
• Markets May Consolidate Amid Absence Of Catalysts
• Debt Fears May Generate Negative Sentiment
• Optimism Over Resolution Of Greek Debt Crisis Gains Ground