The Wall Street opened on Tuesday at a slight low as the recent rally momentum slowed. The S&P 500 declined 0.3% in early trading Tuesday, while the Dow Jones Industrial Average decreased by 22 points and the Nasdaq composite fell 0.4%. Treasury yields and the US dollar remained stable. Home Depot reported positive revenue exceeding analyst expectations for the year’s beginning, maintaining its annual profit and sales growth forecasts.The markets already hinted at a slow start prior to the opening bell as the earnings season approaches conclusion. During pre-market trading, S&P 500 futures declined 0.2%, Dow Jones Industrial Average futures remained flat, and Nasdaq futures dropped 0.2%.However, Home Depot shares increased over 2 per cent in the premarket trading following better-than-expected sales figures and confirmation of previous sales projections, despite housing market challenges. Target and Lowe’s are scheduled to report their results on Wednesday.JPMorgan CEO Jamie Dimon highlighted geopolitical risks as significant concerns for global and US economies during the annual investor conference. He noted that stagflation presents a serious risk scenario.Global markets showed positive movement after China’s interest rate reduction aimed at supporting its economy. The People’s Bank of China decreased the one-year loan prime rate to 3.00% from 3.1%, and the five-year rate to 3.5% from 3.6%.Asian markets demonstrated mixed performance, with Hong Kong’s Hang Seng rising 1.5% to 23,681.48 and Shanghai Composite advancing 0.4% to 3,380.48. The Nikkei 225 in Tokyo increased marginally by 0.1% to 37,529.49.European markets showed positive trends at midday, with Germany’s DAX and France’s CAC 40 rising 0.4%, whilst Britain’s FTSE 100 increased 0.6%.In commodities, US benchmark crude oil decreased 33 cents to $61.81 per barrel, whilst Brent crude declined 36 cents to $65.18 per barrel. The US dollar weakened to 144.60 Japanese yen, and the euro strengthened slightly to $1.1248.
