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The
main focus this week will be on consumer prices data on
Wednesday.
U.S. rate futures have priced in a 68.5% chance of a
75-basis-point hike at the Fed's September meeting, up from
about 41% before the payrolls data on Friday beat market
expectations. [IRPR]
Megacap growth and technology stocks edged higher in trading
before the bell, with Tesla up 1.9%. The U.S. electric-car maker
signed contracts worth about $5 billion to buy materials for
their batteries from nickel processing companies in Indonesia,
according to a CNBC report.
Other high-growth stocks such as Apple Inc and Amazon.com Inc
gained as U.S. Treasury yields pulled back from sharp highs in
the previous session. The benchmark 10-year yield declined 1.6%
in early trading.
Meanwhile, the U.S. Senate on Sunday passed a sweeping $430
billion bill intended to fight climate change, lower drug prices
and raise some corporate taxes.
Signify Health Inc jumped 15.8% on a media report that CVS
Health Corp was looking to buy the health technology company.
At 07:09 a.m. ET, Dow e-minis were up 125 points, or 0.38%, S&P
500 e-minis were up 19.5 points, or 0.47%, and Nasdaq 100
e-minis were up 84.75 points, or 0.64%.
Palantir Technologies Inc dropped 14.3% after the data analytics
software company lowered its annual revenue forecast as the
timing of some large government contracts remained uncertain.
Investors awaited a slew of earnings reports later in the day
from the likes of insurer American International Group Inc and
Dominion Energy Inc.
(Reporting by Bansari Mayur Kamdar and Aniruddha Ghosh in
Bengaluru; Editing by Shounak Dasgupta)
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