Stock Market Today: Dow futures dip after jumping nearly 500 points at start of the week

U.S. bankruptcy filings spiked in August after a slowdown in July, propelling the total for the first eight months of the year to the highest level since 2020 and second-highest since 2010, S&P Global Market Intelligence said Monday.

There were 452 filings in the year through end August, which compares with 466 in the same period in 2020, when the pandemic was still in full swing, and 604 in the same period in 2010.

In August alone, the tally comes to 63, up from a revised 49 in July. That was the third-highest monthly total this year, behind 72 in June and 68 in April.

Stocks making notable moves in Tuesday’s premarket action:

Here are some of the companies presenting earnings on Tuesday:

Before the opening bell:

After the close:

How are stock-index futures trading:

On Monday, the Dow Jones Industrial Average rose 484 points, or 1.2%, to 40,830, the S&P 500 increased 63 points, or 1.16%, to 5,471, and the Nasdaq Composite gained 194 points, or 1.16%, to 16,885.

Futures indicate stocks will give back a slice of the strong gains made in the previous session as concerns linger about the health of the U.S. economy and overvaluation in parts of the technology sector.

Equities are being underpinned however by 10-year Treasury yields near their lowest levels since June 2023, as investors hope that cooling inflation means the Federal Reserve can start reducing interest rates at its meeting on September 18. The consumer price index inflation report for August will be published on Wednesday.

“The new week brought a spate of U.S. bargain hunting as investors mulled over whether the declines of the last few trading sessions had been somewhat overdone,” said Richard Hunter, head of markets at Interactive Investor.

“Even so, investors remain skittish not on the likelihood of a rate cut at the impending Fed meeting, but rather how aggressive the central bank might be. Attention now switches to the other main part of the Fed’s mandate, namely inflation, with reports at the consumer and wholesale levels coming tomorrow and Thursday, with investors grappling for clues as to the size of the impending cut aiming at the perfect scenario of a soft economic landing,” Hunter added.