Before the Bell: Futures muted with Fed, earnings in focus

Wall Street futures were narrowly mixed early Tuesday with traders looking ahead to tomorrow’s Federal Reserve rate decision. Major European markets firmed as the session progressed.In the early premarket period, Dow, S&P and Nasdaq futures all wavered around break even. On Monday, all three saw solid gains, each adding more than 1 per cent on the day. All three are in the red for the month.

“The Fed members will still be raising their eyebrows given the strength of the recent economic data, the uptick in inflation and global uncertainty. But they won’t necessarily be raising the rates. Therefore, what they will say they will do will matter more for the market pricing than what they will do.”

“Weakness in manufacturing volumes and retail sales volumes are expected to weigh on growth amidst evidence that consumer spending continues to weaken,” he said. In Asia, Japan’s Nikkei added 0.53 per cent. The Bank of Japan further loosened its grip on long-term interest rates by tweaking its bond yield control policy again on Tuesday, Reuters reports this morning.Crude prices rebounded after the previous session’s sharp drop with supply concerns continuing to underpin sentiment.

Later in the session, markets will get the first of two weekly U.S. crude inventory reports, with the release of new figures from the American Petroleum Institute. More official government data follow on Wednesday morning.

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Wall Street jumps as earnings gather momentum, Fed meeting nearsKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
منبع: KitcoNewsNOW - 🏆 13. / 78 ادامه مطلب »

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