Categories Markets

Market: US futures point to higher open on trade-talk optimism

US futures are pointing to a higher open in the stock market today after ending flat on Tuesday. Wall Street has regained optimism from the US-China trade deal as talks have been resumed for ending the disputes.

Apart from the optimism around the possibility of a permanent trade deal being struck, investors are waiting for the latest data on consumer price inflation. This could provide further information about the direction of borrowing costs for next year.

The S&P futures gained 0.89% to 2,664.75, Dow futures rose 0.93% to 24,648 and Nasdaq advanced 1.09% to 6,790.50. Elsewhere, shares at Asian markets closed higher on Wednesday, and European stocks are inching higher.

On the European economic front, data from Eurostat showed that Eurozone industrial production rose 0.2% in October after a 0.6% slump in the previous month. On the Asian economic front, the data from the Bank of Japan revealed that producer prices in Japan declined 0.3% on month in November after the 0.4% jump in October.

Market: US Futures point to higher open on trade-talk optimism

On December 11, US ended mixed, with Dow down 0.22% to 24,370.24 and the S&P 500 inched down 0.04% to 2,636.78, while Nasdaq rose 0.16% to 7,031.83. Traders remained wavered between certainty and uncertainty on the potential trade deal. China is inching closer to lowering the tariffs on imported US-made cars to 15% from the current 40% as the proposal has been submitted to the country’s cabinet.

Meanwhile, key economic data that will be released today include the Labor Department’s consumer price index, the size of the U.S. government’s fiscal deficit, and the Energy Information Administration’s weekly report on crude oil price.

Also Read:  Major corporate conferences to watch for the week of Sept. 14

On the corporate front, American Eagle Outfitters (AEO) fell 8.20% in the premarket session after its third-quarter sales missing analysts’ expectations and weak fourth-quarter earnings outlook. Photronics (PLAB) inched down 1.88% in the premarket after weak first-quarter guidance. Dave & Buster’s Entertainment (PLAY) stock dropped 13.48% in the premarket session after guiding the full year 2019 revenue below analysts view. Neurocrine Biosciences (NBIX) stock fell 18.38% in the premarket as its Valbenazine study failed to meet primary endpoints in pediatric patients with Tourette syndrome.

Crude oil futures are up 1.92% to $52.64. Gold is trading up 0.25% to $1,250.30 and silver is up 0.97% to $14.77. On the currency front, the US dollar is trading down 0.01% at 113.369 yen. Against the euro, the dollar is up 0.30% to $1.1353. Against the pound, the dollar is up 0.81% to $1.2588.

 

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips.

Most Popular

What awaits Herman Miller (MLHR) beyond the home-office rush?

Herman Miller Inc. (NASDAQ: MLHR) is one of the few Wall Street firms that managed to take advantage of the opportunities created by the pandemic, after being hit by the

Cognizant’s (CTSH) buying spree in 2020

Cognizant Technology Solutions (NASDAQ: CTSH) has been on a buying spree in 2020. The portfolio of the acquisitions that Cognizant made this year is expected to help the company in

Major earnings conferences to watch for the week of Sept. 21

After registering a slow recovery in the first half of the week, the markets pared these gains on Thursday and Friday. The weakness witnessed in the latter half of the

Tags

Top