financetom
Market
financetom
/
Market
/
US STOCKS-Futures rise as PPI set to kick off data deluge
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US STOCKS-Futures rise as PPI set to kick off data deluge
Aug 13, 2024 3:12 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

*

Futures up: Dow 0.16%, S&P 500 0.34%, Nasdaq 0.52%

Aug 13 (Reuters) - Futures tied to Wall Street's main

indexes rose on Tuesday ahead of producer prices data that will

likely offer some clues on the progress in the Federal Reserve's

fight against inflation and its interest-rate path.

Stocks wobbled on Monday with the S&P 500 nearly flat

and the Nasdaq eking out modest gains, following a

turbulent week marked by mixed economic reports and a rate hike

by Japan's central bank.

Macro data will grab the spotlight before the opening bell

as the U.S. producer price index (PPI) reading is expected to

show that inflation moderated to 2.3% in July on a yearly basis,

while it remained unchanged at 0.2% for the month.

This will be followed by the all-important consumer price

(CPI) figures for July on Wednesday.

Traders continue to be evenly split between 25- and 50-basis

point interest rate cut by the Federal Reserve in September and

expect the year-end rate at 4.25%-4.50%, according to CME's

FedWatch Tool.

"One could argue that equity is still in recovery mode after

last week's shake out, and holding out from really putting money

to work until we get the key US data this week, where pricing

U.S. growth is still the main game in town," said Chris Weston,

head of research at Pepperstone.

Also, on investors' radar will be comments from Atlanta Fed

President Raphael Bostic, due at 1:15 p.m. ET, on the outlook

for the U.S. economy.

Results from retailer Home Depot ( HD ) will also be closely

watched to assess the health of the American consumer ahead of

retail sales data on Thursday.

Wall Street's fear gauge, CBOE Volatility Index was

at 20.14 points after falling 18.87 on Monday.

At 05:19 a.m. ET, Dow E-minis were up 64 points, or

0.16%, Nasdaq 100 E-minis were up 97.75 points, or

0.52%, and U.S. S&P 500 E-minis were up 18.5 points, or

0.34%.

In premarket trading, chipmaker Nvidia ( NVDA ) led the

inclines for megacap and growth stocks with a 1.5% gain.

Roger Federer-backed On Holding beat analysts'

estimates for second-quarter revenue on Tuesday on strong demand

from customers looking for trendy products, but shares fell

nearly 9% premarket after the company reiterated its annual

sales forecast.

BuzzFeed ( BZFD ) rose 14.8% after the digital media company

narrowed its net loss in the second quarter to $6.6 million from

$22.5 million a year earlier.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Sector Update: Tech
Sector Update: Tech
Oct 3, 2024
01:35 PM EDT, 09/23/2024 (MT Newswires) -- Tech stocks were mixed Monday afternoon, with the Technology Select Sector SPDR Fund (XLK) decreasing 0.2% and the SPDR S&P Semiconductor ETF (XSD) marginally higher. The Philadelphia Semiconductor index rose 0.2%. In corporate news, Apollo Global Management ( APO ) has offered to invest as much as $5 billion in Intel ( INTC...
Sector Update: Energy
Sector Update: Energy
Oct 3, 2024
01:31 PM EDT, 09/23/2024 (MT Newswires) -- Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 0.4% and the Energy Select Sector SPDR Fund (XLE) up 0.5%. The Philadelphia Oil Service Sector index was posting a 0.6% increase, and the Dow Jones US Utilities index was adding 0.8%. Front-month West Texas Intermediate crude oil was declining...
US STOCKS-Wall St rises after Fed policymakers back rate cuts
US STOCKS-Wall St rises after Fed policymakers back rate cuts
Oct 3, 2024
* Survey: US business activity steady in September * Intel ( INTC ) gains on report of Apollo's investment offer * GM slips after Bernstein downgrades stock * Indexes up: Dow 0.13%, S&P 500 0.23%, Nasdaq 0.17% (Updates to mid-afternoon, adds analyst comment) By Echo Wang Sept 23 (Reuters) - Wall Street's main indexes rose in mid-afternoon on Monday as...
Sector Update: Financial
Sector Update: Financial
Oct 3, 2024
01:37 PM EDT, 09/23/2024 (MT Newswires) -- Financial stocks were mixed in Monday afternoon trading, with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund (XLF) off 0.1%. The Philadelphia Housing Index was rising 0.8%, and the Real Estate Select Sector SPDR Fund (XLRE) was adding 0.6%. Bitcoin (BTC-USD) was declining 0.7% to $63,199, and the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved