Futures mixed, eyes on Fed speakers
Send a link to a friend
[November 14, 2017]
By Sruthi Shankar
(Reuters) - U.S. stock index futures
pointed to a mixed opening for Wall Street on Tuesday, with worry about
Republican tax plans and the economy's ability to deal with more rises
in interest rates preventing sharper gains.
- Among early movers, Home Depot <HD.N> fell back around half a percent
after gaining on the back of better-than-expected profit and sales at
the largest U.S. home improvement chain.
- U.S.-listed shares of Vodafone jumped about 5 percent after it raised
full-year earnings growth forecast to 10 percent.
- Investors are concerned that a tightening gap between short and
long-term U.S. government bond yields suggests the Federal Reserve may
be in danger of hiking rates too much and killing longer term inflation
and growth.
- Fed chair Janet Yellen told a European Central Bank conference in
Frankfurt the Fed's guidance about its likely future policy path is
beneficial but should always be viewed as conditional on how the economy
actually develops.
- Chicago Fed Chief Charles Evans, speaking in the same event, called
for a new approach to rate-setting that would allow the central bank to
respond to shocks when rate cuts alone are not enough.
- 13 central bank officials, including the heads of the European,
British and Japanese central banks, are speaking at the event on
Tuesday.
[to top of second column] |
Traders work on the floor of the New York Stock Exchange (NYSE) in
New York, U.S., November 8, 2017. REUTERS/Brendan McDermid
- Data on Tuesday is expected to show producer price increased 0.1 percent in
October, compared with a rise of 0.4 percent a month earlier. The report is due
at 8:30 a.m. ET.
- Wall Street stocks rose on Monday as a sharp drop in General Electric <GE.N>
shares was more than offset by gains in high dividend-paying sectors including
consumer staples and utilities.
Futures snapshot at 7:02 a.m. ET:
* Dow e-minis <1YMc1> were down 12 points, or 0.05 percent, with 21,101
contracts changing hands.
* S&P 500 e-minis <ESc1> were down 3 points, or 0.12 percent, with 131,676
contracts traded.
* Nasdaq 100 e-minis <NQc1> were up 1.25 points, or 0.02 percent, on volume of
21,734 contracts.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D'Silva)
[© 2017 Thomson Reuters. All rights
reserved.] Copyright 2017 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
|