After a lacklustre Monday, US equities aren’t in a rush to return to positive territory as the start of Tuesday’s trading day approaches, bringing with it yet another busy day in Washington as investors look past last week’s healthcare non-starter.
Stocks recovered by Monday’s close from an early-day slide, but they don’t appear to have much momentum behind them as the opening bell approaches. Futures tip the Dow Jones Industrial Average and S&P 500 to each open down 01. per cent, taking them to 20,476 and 2,336 respectively. The Nasdaq 100 is poised for a relatively flat open at 5,378.
On the policy front, investors will be keeping an eye out for data on US wholesale inventories and consumer confidence figures, as well as a deep bench of Fed speakers, including remarks from the central bank’s chief, Janet Yellen, in Washington D.C. on workforce development challenges, in addition to Kansas Fed president Esther George, Dallas Fed president Dennis Kaplan and Fed governor Jerome Powell.
President Donald Trump is also reportedly preparing to sign an executive order rolling back some of his predecessor’s environmental policies later on Tuesday.
Across the globe, markets were generally pointing up, with the Nikkei closing up 1.14 per cent and the Hang Seng ending its trading day with a 0.63 per cent gain. With just a few hours left to go, Germany’s Dax was up 0.52 per cent while the FTSE 100 was flat.
The dollar index — which measures the buck against a basket of peer currencies — was up 0.14 per cent in early trading to 99.308, firming a day after touching 98.86, its weakest point since mid-November.
Gold was trading flat, while oil prices were bounding higher, with the US crude benchmark picking up 0.88 per cent to $48.15 a barrel, while the global Brent standard had gained 0.85 per cent to $51.18 a barrel.