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Risk-Off Mood Fades on Wall Street Pre-Bell; Asia Up, Europe Flat
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Risk-Off Mood Fades on Wall Street Pre-Bell; Asia Up, Europe Flat
Aug 6, 2024 4:52 AM

07:18 AM EDT, 08/06/2024 (MT Newswires) -- Wall Street futures pointed moderately higher pre-bell Tuesday as traders regained footing and looked for values after recent bear moves on global equities markets.

In the futures, the S&P 500 rose 0.9%, the Nasdaq edged 0.8% higher and the Dow Jones was up 0.6%.

The CME Fedwatch Tool projects a 78% chance of a 50-basis-point rate cut by the US Federal Reserve at their mid-September policy meeting.

Asian exchanges traded mostly higher overnight, led by a 10% rebound in Tokyo, following Monday's 12% fall. The tech-centric Seoul and Taiwan broad-market indices both rose more than 3% on the day.

European bourses were steady midday on the continent.

Caterpillar (CAT) traded up 7.3% pre-bell after reporting Q2 results above consensus before the market open.

Duke Energy (DUK) traded evenly pre-bell after reporting higher Q2 adjusted earnings and operating revenue.

Palantir Technologies (PLTR) rose 8.3% pre-bell after the software company posted upbeat Q2 results and lifted its fiscal 2024 revenue outlook late Monday.

Amgen (AMGN) and Airbnb (ABNB) are among the companies slated to report earnings after market close.

On the economic calendar is the international trade in goods and services bulletin for June, due 8:30 am ET.

In premarket activity, Bitcoin traded at $55,232, West Texas Intermediate crude oil traded higher at $73.36, and 10-year US Treasuries offered 3.83%. Spot gold traded for $2,414 an ounce.

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