Futures trade mixed
U.S. stocks are likely to open mixed lower on Tuesday as market participants eye President Donald Trump’s Covid-19 recovery and fresh hopes for a new stimulus package being agreed.
Trump returned to the White House late on Monday after spending less than three days at the Walter Reed National Military Medical Center. The president told reporters he was “feeling good,” but his physician Sean Conley warned that “he may not be entirely out of the woods yet.”
By 7:50 a.m. ET, futures tied to the blue-chip Dow added 96.5 points, or 0.34% to 28,091.5. The S&P 500 futures rose 2.48 points to 3,394.38 while the tech-heavy Nasdaq 100 futures were down 23 points, or 0.2% to 11,446.25.
Powell’s speech on watch
Meanwhile, Federal Reserve chairman Jerome Powell is scheduled to address the National Association for Business Economics annual meeting at 10:40 a.m. ET. Traders will be listening keenly for any fresh cues on the state of the economy.
The Fed chief is expected to talk about the economic outlook after the central bank changed its projections last month. In recent weeks, Powell has repeatedly stated that more fiscal support is likely to be needed to continue supporting the coronavirus-hit economy.
Shares in Alteryx surge after appointing new CEO
Alteryx (NYSE: AYX) rocketed in the pre-market trading session on Tuesday after the company said that co-founder Dean Stoecker would step down from his role as chief executive and would immediately be replaced by board member Mark Anderson.
The data analytics firm also announced late Monday that it expects its fiscal third-quarter revenue to come in at $126 million to $128 million, representing year-over-year growth of 22% to 24%. Alteryx had previously guided for third-quarter revenue of $111 million to $115 million.
As of writing, the stock was indicated $24.21, or 21.26% higher to $138.09 per share.
