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Nasdaq, S&P 500 Futures On Edge As Traders Gear Up For PPI Data, Powell's Speech: Why This Analyst Remains Hopeful Despite Market Losing Some Momentum

The market mood appears to be fidgety early on Tuesday as traders eye the week’s twin inflation reports and other market-moving economic events. The producer price inflation report due ahead of the market opening could give a decisive direction when stocks open for trading. Traders may also look forward to rate commentary from the speeches by a couple of Federal Reserve officials, including Chairman Jerome Powell. Home Depot, Inc. (NYSE:HD) kicked off the retail reporting season on a lackluster note, with revenue coming in shy of estimates, while earnings per share were in line. The company also suggested continued softness in larger consumer discretionary projects. Futures Performance (+/-) Nasdaq 100 +0.07% S&P 500 +0.02% Dow +0.03% R2K +0.15% In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) ticked up 0.02% to $521.04, while the Invesco QQQ ETF (NASDAQ:QQQ) edged up 0.03% to $443.20 according to Benzinga Pro data. Cues From The Last Session U.S. stocks ended Monday’s session on a mixed note as wary traders bid their time ahead of the inflation data. The fall in bond yields helped to ...