U.S. stock markets were headed for a broadly flat open Tuesday, with investors seemingly waiting for direction from Nvidia’s upcoming earnings and a slate of central-bank speakers. Dow Jones Industrial Average futures were down 8 points, or less than 0.1%. S&P 500 futures were broadly flat, while Nasdaq 100 futures were down 0.1%.
The Dow was struggling to hold onto its 40,000 milestone to start the day on Monday. The Dow Jones Industrial Average was down 23 points, or 0.1% in early Monday trading. The Nasdaq Composite was up 0.2%.
Stocks such as AMC and GameStop are skyrocketing, completely divorced from news about the companies. Funds such as Citron Research and Melvin Capital lost billions in the last meme-stock frenzy. One of the reasons GameStop and AMC, along with the now-defunct Bed Bath & Beyond, became meme stocks in 2021 was out of nostalgia for their old-fashioned bricks-and-mortar existence in the face of Covid-19 pandemic restrictions.