Stock Futures Steady Ahead of Holiday-Shortened Session

Stock futures were mixed in premarket trading on Tuesday before the start of a holiday-shortened trading session.

Futures contracts connected to the Dow Jones Industrial Average ticked down 0.1%, while S&P 500 and Nasdaq 100 futures were up 0.1% and 0.2%, respectively. All three major indexes posted gains yesterday after recovering from a shaky morning.

The stock market will close at 1 p.m. ET and the bond market at 2 p.m. ET today for Christmas Eve. Both markets will remain closed on Christmas and reopen Thursday morning.

American Airlines (AAL) shares fell premarket after the carrier said it was working to resolve a technical issue that had grounded all of its flights on one of the busiest travel days of the year.

Advanced chipmakers Broadcom (AVGO) and Advanced Micro Devices (AMD) continued to rise in early trading after leading the S&P 500 yesterday. Each was given a boost yesterday by analysts’ bullish comments about their artificial intelligence potential.

Treasury yields edged higher Tuesday morning, with the 10-year yield ticking up to 4.62%. Yields have risen more than 20 basis points since the Federal Reserve last week scaled back its forecast for future interest rate cuts. The dollar followed Treasury yields higher.

Bitcoin held steady at about $94,000 after tumbling below $93,000 yesterday. Last week’s Fed decision has weighed on the cryptocurrency, which topped $100,000 for the first time earlier this month.

Oil futures traded slightly higher, with the U.S. benchmark West Texas Intermediate trading at about $69.75 a barrel. Gold futures were little changed at $2,630.