Stock futures trade in tight range ahead of data
NEW YORK — Investors remain cautious as they await reports on housing and inflation a day after a stock market slide.
Stock futures are showing only modest moves after major market indexes fell sharply Monday. Investors have been worrying that a three-month rally would lose momentum. Traders are also concerned that a recovery in the U.S. economy might not be as many on Wall Street had been hoping.
Overseas, European stock markets steadied by midday there after Asian markets tumbled.
A slew of U.S. economic data due ahead of the opening bell could reshape sentiment. A government report is expected to show that new home construction rose in May from a record low a month earlier and that building permits increased slightly.
The Labor Department is also expected to release data on wholesale inflation. The Producer Price Index for May and the housing figures are due at 8:30 a.m. Eastern.
The Federal Reserve is expected to report on industrial production for May at 9:15 a.m.
Quarterly results are also due from retailer Best Buy Co.
Ahead of the numbers, Dow Jones industrial average futures rose 13, or 0.2 percent, to 8,632. Standard & Poor’s 500 index futures rose 1.50, or 0.2 percent, to 920.90, while Nasdaq 100 index futures slipped 0.25, or less than 0.1 percent, to 1,457.00.
On Monday, the Dow tumbled 187 points, or 2.1 percent, putting it back into the red for the year. Last week, the blue chips was up on the year for the first time since January.
The dollar fell against other major currencies after jumping Monday. Gold prices rose.
The ease in the dollar helped push oil prices higher. Light, sweet crude rose $1.48 to $72.10 per barrel in electronic trading on the New York Mercantile Exchange.
Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.73 percent from 3.72 percent late Monday. The yield on the three-month T-bill, considered one of the safest investments, was flat at 0.15 percent from Monday.
Overseas, Japan’s Nikkei stock average slid 2.9 percent. In afternoon trading, Britain’s FTSE 100 rose 0.5 percent, Germany’s DAX index rose 0.1 percent, and France’s CAC-40 rose 0.2 percent.
Related News
Summary Box: Industrial production grows more than expected, inflation remains in checkSeptember 16th, 2009 Summary Box: Industrial production rose last monthMORE GROWTH, NO INFLATION: Government data show the nation's factories, mines and utilities boosted production for the second straight month in August, the latest sign of an economic recovery. At the same time, inflation remains in check.
Stocks begin September slightly higher as investors await data on manufacturing, housingSeptember 1st, 2009 Stocks creep higher ahead of manufacturing dataNEW YORK — Stocks edged higher Tuesday ahead of reports on manufacturing and housing. The slight gains follow declines in European shares and a modest rebound in Asian markets.
Stocks begin September little changed as investors await data on manufacturing, housingSeptember 1st, 2009 Stocks mixed ahead of manufacturing dataNEW YORK — As September begins, investors are cautious about extending the market's rally into a seventh month. Stocks are little changed in early trading Tuesday, following declines in European shares and a slight rebound in Asian markets.
Summary Box: Sharp drop in wholesale prices adds to evidence of no inflation threatAugust 19th, 2009 Summary Box: Wholesale prices signal low inflationWHAT HAPPENED?: Wholesale inflation dropped 0.9 percent in July, reflecting big declines in energy and food costs. Construction of single-family homes rose for a fifth straight month, though overall housing construction fell 1 percent because of weakness in apartment building.
Stocks open slightly lower after data on inflation, industrial productionAugust 14th, 2009 Stocks dip after data on inflation, productionNEW YORK — Stocks drifted lower early Friday as investors looked for more reasons to keep the market's summer rally going. Investors paused after two days of buying as the Labor Department said a measure of inflation was flat in July after a slight increase in June.
Stocks open slightly lower as Federal Reserve begins meeting; productivity surgesAugust 11th, 2009 Stocks open slightly lower ahead of Fed meetingNEW YORK — Stocks fell moderately in early trading Tuesday as the Federal Reserve begins a two-day meeting that could provide new insight into how the economy is faring. It is widely expected that the central bank will hold interest rates steady at near zero when they end their meeting Wednesday, but investors will be keeping a close watch on what the Fed has to say about the current state of the economy.
Stocks begin holiday-shortened week in positive territory, investors await week's key dataJune 29th, 2009 Stocks open higher ahead of week's key dataNEW YORK — Investors are beginning a holiday-shortened week on a positive note. Stocks are slightly higher in early trading Monday, following mixed moves in overseas markets.
US stocks set for lower open after Fed statement; investors await GDP, jobless claimsJune 25th, 2009 Stock futures slip before GDP, jobless claims dataNEW YORK — Investors are looking for more evidence of a recovery after the Federal Reserve's vote of confidence in the economy. Stock futures were narrowly mixed early Thursday, indicating a flat open on Wall Street, ahead of the government's final reading on first-quarter gross domestic product and data on last week's unemployment claims.
Stocks signal flat open ahead of reports on inflation, trade; Traders eye financial regulationJune 17th, 2009 Stocks point to flat open ahead of dataNEW YORK — Investors are finding more reason for caution as questions linger over how quickly the economy can bounce back. Stock futures are mixed and showing only modest moves early Wednesday as investors await economic data on inflation and trade.
Stocks flat as investors weigh positive data on housing against worries about economyJune 16th, 2009 Stocks hold steady after housing, inflation dataNEW YORK — Investors remain cautious but are finding some room for optimism a day after a stock market slide. Stocks are roughly flat after better-than-expected data on home construction, building permits and inflation eases some of the fears that have dogged investors in recent weeks about the speed of an economic recovery.
Stocks point higher ahead of data on home construction, inflation, industrial productionJune 16th, 2009 Stock futures point higher ahead of economic dataNEW YORK — Investors remain cautious as they await reports on housing and inflation a day after a stock market slide. Stock futures are moderately higher Tuesday after major market indexes fell sharply Monday.
India's industrial sector will continue to improve: Moody'sJune 12th, 2009 NEW DELHI - The rise in India's industrial production in April points to stabilisation of the industrial sector, which will continue to grow in coming months, says the economic intelligence arm of global rating agency Moody's. The Index of Industrial Production (IIP) rose 1.4 percent in April as against a decline of 0.75 percent in March, data released here Friday by the government said.
Stocks point to flat open as investors await details on government 'stress tests' for banksApril 24th, 2009 Stocks signal flat open as focus turns to banksNEW YORK — Stock futures are little changed as investors await details on how the government is evaluating the health of the nation's largest banks. Treasury Secretary Timothy Geithner is expected on Friday to outline the methodology for the "stress tests" that regulators have given to 19 of the largest U.S.
Markets go flat by noonMarch 12th, 2009 MUMBAI - Trading in Indian equities turned flat by noon Thursday after a surge in the morning, despite a fall in inflation and a lower-than-expected fall in industrial production in January. The Bombay Stock Exchange (BSE) Sensitive Index (Sensex), which opened at 8,274.78 points, was at 8,319.9 points around noon, 1.95 percent or 159.5 points higher than its previous close.
India's industrial production falls 0.5 percent in JanuaryMarch 12th, 2009 NEW DELHI - India's industrial production fell 0.5 percent in January to log a decline for the second month in a row, despite the stimulus packages announced by the government to pump prime the economy in the wake of the global slowdown. The slide, based on the official data on index of industrial production released by the industry ministry Thursday, was on account of a 0.8 percent drop in manufacturing index and a 0.4 percent fall in the index for mining.
Loading ...