By Oliver Gray
Investing.com - U.S. stock futures traded steady in early APAC deals on Tuesday, after major benchmark averages closed mixed in the regular session as investors awaited further catalysts after retreating from fresh all-time highs last week amid growing inflation concerns.
During Monday’s session, the Dow Jones Industrial Average fell 12.86 points or 0.04% to 36087.46, the S&P 500 closed flat at 4682.81 and the NASDAQ Composite dipped 7.11 points or 0.04% to 15853.85.
Dow Jones 30 Futures were up 0.03% S&P 500 Futures added 0.04% and Nasdaq 100 Futures lifted 0.06%.
Among stocks, Tyson Foods Inc (NYSE:TSN) added 3.55% in the regular session after reporting fiscal fourth-quarter results that beat on both the top and bottom lines. Energy was higher, despite lower oil prices as the debate intensified as to whether the U.S. will release oil from its strategic petroleum reserves to help curb gas prices. Kinder Morgan Inc (NYSE:KMI) added 1.08%, Phillips 66 (NYSE:PSX) gained 1.86% and Chevron Corp (NYSE:CVX) lifted 2.27%. Tesla Inc (NASDAQ:TSLA) also fell a further 1.94% as Elon Musk sold a total of $US6.9 billion worth of shares last week. In extended deals, Lucid Group Inc (NASDAQ:LCID) added 2.5% after reporting a notable increase in vehicle reservations, while confirming its production target for next year.
In policy news, President Joe Biden signed the more than $US1 trillion bipartisan infrastructure bill into law on Monday, providing new funds for transportation, broadband, utilities as well as roads, bridges and other major projects.
On the bond markets, United States 10-Year rates were near 3-week highs of 1.616%.
Among data, investors will be closely monitoring October Retail Sales due later in the session, with market analysts predicting a 1.5% increase, up from September’s gain of 0.7% amid rising gasoline prices and early holiday shopping.