On Tuesday, the three major US stock index futures collectively fell, while major European stock indices rose.
In the previous trading day, the three major US indices collectively closed lower, but small-cap stocks rose against the trend, with the Russell 2000 Index up 1%. Over the past month, small-cap stock indices have risen nearly 7%, increasing hopes for further market rebound. The market increasingly believes that the Federal Reserve will begin cutting interest rates next year. However, Fed Chairman Powell refuted this claim last week.
Jason Heller, Senior Executive Vice President of Coastal Wealth, warned that investors should lower their expectations for a stock market rally in 2024.
Heller said that given rising interest rates, weak consumer spending and declining corporate profit expectations, there are almost no catalysts for a rise in the US stock market. It is expected that the stock market will remain within a narrow trading range.