US stocks may experience another day of slow drift on Tuesday as investors wait for more fundamental catalysts later in the week at home and abroad as the US dollar looks to continue recouping its payrolls losses as commodities fall back. Oil stocks and cable operators were a drag on indices yesterday thanks to lower oil prices and President Obama’s call for net neutrality. The weaker than expected payrolls last Friday had a fairly neutral effect on stocks but the US dollar sold off heavily while commodities caught a bounce. By the end of trading yesterday oil and gold were trading back down close to the lows while the dollar index was almost back at pre-payrolls levels. The bounce in US oil prices only made it as far as the $80 per barrel psychological level before crashing right back down again, opening up the possibility of the next leg lower in oil futures and oil company share prices. Both Exxon and Chevron look like a lower open again today. Cable operators including Time Warner Cable, Comcast, Cablevision and Charter Communications all fell on Obama’s insistence on net neutrality. The companies have been looking towards discriminating customers based on usage by charging services such as Netflix or P2P platforms typically associated with heavy bandwidth as an extra source of revenue. Net neutrality where all users are treated equally is considered an important part of an open, transparent internet and shares of Netflix edged higher. The FCC previously proposed a ruling under the title of ‘net neutrality’ but in fact included the allowance of items such as ‘fast lanes’ for preferential users. So while Obama’s call for neutrality is not necessarily good for the cable operators, after a bit of lobbying inside Washington; any bill that changes current laws may end up being quite supportive. Caesars Entertainment reported a much wider than expected loss on lower revenue than expected and is expected to open lower. DR Horton and Fossil Group report on Tuesday. Futures suggest the: S&P 500 will open 2 points higher at 2,040 with the Dow Jones expected to open 20 points higher at 17,633 and the Nasdaq 4 points lower at 4,179. CMC Markets is an execution only provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.