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Stocks Mostly Down Pre-Bell as Investors Await Key Economic Data, Earnings; Asia Churns, Europe Strong
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Stocks Mostly Down Pre-Bell as Investors Await Key Economic Data, Earnings; Asia Churns, Europe Strong
Aug 29, 2024 2:45 AM

07:22 AM EDT, 08/27/2024 (MT Newswires) -- US equity futures mostly edged lower before Tuesday's opening bell, as traders await a key inflation report due later in the week.

Standard & Poor's 500 and the Dow Jones Industrial Average decreased 0.1% each in premarket activity, while the Nasdaq was slightly in the green. Asian exchanges were mixed to lower while European bourses were trending upwards midday on the continent.

The personal income and outlays report for July is due Friday. The report includes the personal consumption expenditure core price index, which is the Federal Reserve's preferred inflation metric. Nvidia ( NVDA ) and CrowdStrike (CRWD) are set to release their latest quarterly results Wednesday.

Tuesday's economic calendar has the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for June, at 9 am ET. The Conference Board's consumer confidence report for August is out at 10 am, along with the Richmond Fed Manufacturing Index for the same month.

Shares of Apple ( AAPL ) were down 0.3% pre-bell as the iPhone maker announced that Kevan Parekh will replace Luca Maestri as its chief financial officer at the start of next year.

Cadeler (CDLR), American Woodmark ( AMWD ) and ScanSource ( SCSC ) report their latest financial results before the bell, among others. SentinelOne (S), Nordstrom ( JWN ) and Semtech ( SMTC ) post earnings after markets close.

Before the opening bell, bitcoin declined 1.8% to $62,328, West Texas Intermediate crude slipped 0.8% to $76.81 a barrel, yields on 10-year Treasuries advanced 2.8 basis points to 3.85% and gold retreated 0.5% to $2,543 an ounce.

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