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Pre-market indicators show S&P 500 futures modestly positive, powered by defensive stock rotation. This could reflect a hedge against near-term macro uncertainty. At the same time, oil companies have also clashed with Sir Keir Starmer , Labour’s leader, and Humza Yousaf, the SNP leader and first minister of Scotland, over their stance on the oil industry. Shortly after 6 p.m. ET on Tuesday, futures tied to the S&P 500 and Nasdaq-100 futures each dropped about 0.2%. Futures tied to the Dow Jones Industrial Average shed 52 points, or roughly 0.1%. Pre-market action shows S&P 500 futures up 0.16%, with traders reallocating into industrials on strong manufacturing PMIs. Watch aerospace and defense stocks for momentum plays.
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