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Wall Street indexes marked strong gains on
Wednesday, with economically sensitive cyclical stocks
benefiting the most from a rally in oil prices and data
suggesting that factory activity growth remained steady in the
country.
Data also showed a dip in import prices, which coupled with a
recent reading that showed consumer prices were slowing, implied
that inflation had likely peaked and would fall to more
manageable levels eventually.
But the stock market have struggled to hold on to record highs
hit earlier this month due to seasonally weaker trends in
September, as well as concerns that an economic recovery could
lose steam towards the end of the year.
Focus is now on weekly jobless claims and August retail sales
data, both of which are due at 8:30 AM ET (1230 GMT).
S&P 500 E-minis were down 5.75 points, or 0.13% at 06:22 am ET.
Dow E-minis were down 28 points, or 0.08%, while Nasdaq 100
E-minis were down 32.75 points, or 0.21%.
U.S.-listed Chinese stocks extended losses in premarket trading,
with Beijing's regulatory overhaul of gambling in Macau coming
as the latest source of consternation for a sector already hurt
by crackdowns on technology and education services.
U.S.-based casino operators Las Vegas Sands Corp, Wynn Resorts
Ltd and MGM Resorts International also fell before the opening
bell.
Among other movers, videogame publisher EA rose nearly 2%, as it
maintained its guidance despite delaying the launch of its
widely anticipated "Battlefield 2042" title by a month.
(Reporting by Ambar Warrick in Bengaluru; Editing by Arun Koyyur)
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