Monday, 26 June 2017
Wall Street to begin higher as new data comes into play
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Wall Street
US equity index futures were set for a higher open on Monday pre-session hours, with market players awaiting for fresh economic data and comments from central bank speakers.
Wall Street indexes ended mixed on Friday, as the energy sector rebounded from local minimums, although oil prices remained under heavy pressure after oilfield services provider Baker Hughes said US drillers added rigs for a 23rd consecutive week.
The S&P 500 was up 0.1 percent, mainly supported by energy stocks which rose about 0.7 percent in average. The Dow Jones industrial average finished near breakeven, with Boeing adding the most and Home Depot pushing downwards. The Nasdaq advanced 0.4 percent.
------ Dow Jones Industrial Average: -2.53 / -0.01% / 21394.76
------ Standard & Poor’s 500: 3.80 / 0.16% / 2438.30
------ Nasdaq Composite: 28.56 / 0.46% / 6265.25
Last week, markets were mainly driven by remarks from FOMC speakers. Investors looked for further guidance on the timing for the next Federal Reserve interest rate hike.
If you want to get a full picture on what Fed representatives said about future rate hikes, check our blog - we’ve put together some of the most relevant opinions out there.
In economic news, manufacturing and services PMI indexes for June fell short from expectations, with 52.1 and 53.0 readings respectively.
In a separate report, new homes sales for May rose by 2.9 percent, below an initially estimated 5.4 percent, to an annualized rate of 610.000 units.
Ahead in the session, traders will be paying attention to durable goods orders for May as of 12:30 GMT, with analysts pointing at a 0.6 percent decline. Overseas, focus will be directed to ECB President Mario Draghi remarks at 17:30 GMT.
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