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Retail Earnings, Fed Meeting Minutes Nudge Wall Street Higher Pre-Bell, Asia Mixed, Europe Gains
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Retail Earnings, Fed Meeting Minutes Nudge Wall Street Higher Pre-Bell, Asia Mixed, Europe Gains
Aug 27, 2024 5:40 PM

07:30 AM EDT, 08/21/2024 (MT Newswires) -- Wall Street futures pointed modestly higher pre-bell Wednesday as traders weighed earnings results from retail companies and awaited the afternoon posting of minutes from the US Federal Reserve's latest policy session.

Target (TGT) shares were up nearly 15% pre-bell after the retail company posted higher fiscal Q2 results and raised its fiscal 2024 guidance.

The US central bank will post minutes from its July 30-31 policy meeting at 2 pm ET.

The US Bureau of Labor Statistics is slated to revise its monthly estimates of job creation between April 2023 and March 2024 at 10 am, with some analysts expecting a downward revision to the update.

In the futures, the S&P 500, Nasdaq, and Dow Jones all edged 0.1% higher from Tuesday's closes.

Asian exchanges traded mixed and muted overnight, while European bourses tracked modestly higher midday on the continent.

Keysight Technologies (KEYS) stock was up 12% pre-bell after the company reported fiscal Q3 results that surpassed Capital IQ analysts' estimates.

TJX (TJX) and Analog Devices (ADI) are among the companies reporting their earnings pre-bell.

On the economic calendar, in addition to the Fed minutes release, is the Atlanta Fed Business Inflation Expectations report for August at 10 am ET and the Q2 national services survey, also at 10 am.

The weekly EIA petroleum status bulletin is due at 10:30 am.

In premarket activity, Bitcoin traded at $59,299, West Texas Intermediate crude oil traded higher at $73.45, and 10-year US Treasuries offered 3.82%. Spot gold traded for $2,508 an ounce, again testing record highs.

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