Stock futures fell early on Tuesday as traders awaited the first of a slew of labor data that in coming days will likely set the tone into next week’s Federal Reserve meeting.
“Markets have lost a little of their recent poise over the last 24 hours, ” Deutsche Bank said.
“There hasn’t been a specific catalyst for the softness, but the astonishing rally in November and long positioning has led to some skepticism about how much further it’s able to run, at least until we get some more data that’s soft-landing friendly.”
Investors will be keen to see if jobs reports coming over the next few days can support that narrative.