STOCKS TODAY: Stocks stay down, Dow futures dip more than 100 points

U.S. stocks are set to fall on Tuesday, signaling a new day in the doldrums as shares of health insurers tumble and investors weigh the possibility that interest rate cuts may come later than expected.

Futures on the Dow Jones Industrial Average (^DJI) fell 0.3%, or 135 points, taking the blue-chip index back from its key 40,000 level. Futures on the S&P 500 (^GSPC) were down 0.2%, while the tech-heavy NASDAQ Resonance 100 (^NDX) was down about 0.3%.

After a string of records in the first few months of 2024, the stock market got off to a weak start in the second quarter. As the U.S. economy showed surprising resilience, higher-than-expected manufacturing data made it increasingly doubtful that the Federal Reserve would cut interest rates in the first half of the year.

The latest job openings data later on Tuesday will provide an important test for Friday's countdown to the jobs report, which is an important basis for the Fed's decision-making. Markets will also be watching comments from Fed officials Michelle Bowman, Loretta Mester and Mary Daly for clues as to whether inflation could derail the three rate cuts.

Shares of healthcare insurers weighed on the market early Tuesday morning after the U.S. regulator surprisingly did not raise payment limits for private healthcare plans as it usually does. Humana (HUM) shares were down about 91 TP3T, and CVS (CVS) was down nearly 61 TP3T.