Forex News 24
  • RSS

news

Wall Street set to open higher as inflation worries ease

Wall Street set to open higher as inflation worries ease
админ
12/03/2018

Wall Street set to open higher as inflation worries ease 300x225 - Wall Street set to open higher as inflation worries ease

U.S. stock index futures pointed to a higher opening for Wall Street on Monday, building on gains from last week’s strong February jobs data that allayed fears of rising inflation and faster interest rate hikes.

Wall Street’s main indexes closed up nearly 2 percent on Friday after data showed U.S. job additions in February grew by a strong clip but wage growth was sluggish.

Traders of U.S. short-term interest-rate futures kept bets the Federal Reserve will stick to three rate hikes this year.

A month ago, the markets were gripped by fears of higher wages leading to price pressures, triggering a selloff that punctured the stock market’s strong rally in 2018.

However, the S&P and the Dow have nearly reclaimed those losses. The S&P 500 is just 3 percent below the record highs hit on Jan. 26 and the Dow is 4.8 percent away from its peak.

Rapid gains in technology stocks have already powered the Nasdaq back to its record levels.

Last week’s gains were also supported by U.S. President Donald Trump’s softer stance on his decision to impose import tariffs on steel and aluminum by exempting Canada and Mexico.

Standard & Poor’s Corp2786.57
.SPXCHICAGO BOARD OPTIONS EXCHANGE
+0.00(+0.00%)
chartsgen2?symbols= - Wall Street set to open higher as inflation worries ease
At 7:01 a.m. ET, Dow e-minis 1YMc1 were up 100 points, or 0.39 percent. S&P 500 e-minis ESc1 rose 10 points, or 0.36 percent, and Nasdaq 100 e-minis NQc1 gained 41.75 points, or 0.59 percent.

Investors will pore over the next round of data on consumer prices and retail sales due this week for signs of rising price pressure.

Among stocks, shares of Orexigen Therapeutics sank about 70 percent in premarket trading after the drugmaker filed for Chapter 11 bankruptcy protection. Lumentum Holdings rose 5.5 percent after the laser and optical fiber specialist said it would buy optical components producer Oclaro for about $1.7 billion in a cash and stock deal. Oclaro jumped 25 percent.

Source

Related Itemsconsumer pricesFederal Reservefuturesinflationinterest rateInvestorslossesmarketmarketsNasdaq 100pricerateretailretail salessalesstock markettradingTrumpWall StreetWall Street’s

Leave a Reply

Cancel reply

Your email address will not be published. Required fields are marked *

Anti-spam: complete the taskWordPress CAPTCHA


news
12/03/2018
админ
Related Itemsconsumer pricesFederal Reservefuturesinflationinterest rateInvestorslossesmarketmarketsNasdaq 100pricerateretailretail salessalesstock markettradingTrumpWall StreetWall Street’s

More in news

273116ff712463a8fe797bc26d4bddd2 400x240 - Major policy change for the FED

Major policy change for the FED

админ30/08/2020
Read More
5ecd652efa96beb5e9daab8a81713e20 400x240 - Powell expected to preview Fed’s policy framework

Powell expected to preview Fed’s policy framework

админ27/08/2020
Read More
1cfd53e4dc84605be8f34b32e1fc08ff 400x208 - European markets look defensive

European markets look defensive

админ26/08/2020
Read More
Scroll for more
Tap

Last news

  • 273116ff712463a8fe797bc26d4bddd2 95x60 - Major policy change for the FED
    Major policy change for the FED
    news30/08/2020
  • 5ecd652efa96beb5e9daab8a81713e20 95x60 - Powell expected to preview Fed’s policy framework
    Powell expected to preview Fed’s policy framework
    news27/08/2020
  • 1cfd53e4dc84605be8f34b32e1fc08ff 95x60 - European markets look defensive
    European markets look defensive
    news26/08/2020
  • cbda506728f805be55e3597fd478b623 95x60 - Another record-setting session for U.S. stocks futures
    Another record-setting session for U.S. stocks futures
    news25/08/2020
  • 3c51d052540d35f9b8497fc0b1942d58 95x60 - $50M worth of cryptos or more left China
    $50M worth of cryptos or more left China
    news23/08/2020

Tags

american Asia Bitcoin China cryptocurrency currency Dollar dollar index economic Economists EUR euro Fed Federal Reserve forex futures GBP GDP Germany Index inflation interest rate interest rates Japan losses lost market markets monetary policy Oil price prices rate rates retail rise risk sales trade trade war trading Trump UK United States US

Copyright © 2019 Forex News 24, all rights reserved.

Cryptocurrency Daily Roundup – Mar. 12
Euro to Pound Exchange Rate Forecast: EUR/GBP Outlook Could Shift on Eurozone Inflation Results