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Equities futures struggled for direction Tuesday morning.
Information is not investment advice
Ichimoku Kinko Hyo
CHF/JPY: The CHF/JPY pair is trading slightly below the Kumo. A drop of the market will push prices below the Kijun sen, targeting the Tenkan sen level. Further bearish momentum will lead the exchange rate to lower ground.
US Market View
Equities futures struggled for direction Tuesday morning. Investors looking ahead to the start of earnings results from mega-cap technology companies on Tuesday.
Concerns over the spread of the Delta variant and a regulatory crackdown in China will also play a role in the direction of the market.
Futures contracts on the S&P 500 headed lower after the blue-chip index ended up at a record closing and intraday high during the regular trading day on Monday. Dow futures also dipped, while NASDAQ futures were little changed.
Chinese stocks listed in the U.S. sank further on Tuesday, with shares of companies like Alibaba (BABA) and Baidu (BIDU) trading lower, amid speculation that a broad-based regulatory crackdown in China might have a negative effect in Chinese investments.
On Tuesday, investors are set to receive quarterly earnings results from companies including Apple, Alphabet, and Microsoft, or some of the most heavily weighted stocks in the S&P 500. These will come on the heels of an already strong second-quarter earnings season, with the expected growth rate for aggregate S&P 500 earnings per share hovering at more than 74%, or the highest since 2009.
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