Tuesday, 15 August 2017

US equity indexes higher; fresh data eyed

Posted by Anonymous at 11:58 Labels:

Wall Street stock indexes futures were pointing to a green start of the session on Tuesday, with market players looking ahead of fresh economic reports later in the day.

US equity indexes traded higher on Monday as geopolitical tensions in the Korean peninsula eased, reawakening risk appetite across the markets.

The Dow Jones industrial average ended nearly 135 points higher, with Goldman Sachs and Apple pushing the 30-stock benchmark to green territory.

The S&P 500 added more than one percent during the session, as information technology and financials turned to the upside as uncertainty started to vanish.

Stocks of Amazon and Facebook were on demand, helping the tech-heavy Nasdaq composite to rise about 1.3 percent by the closing bell.

US stock indexes were recovering from one of their worst weeks of the year, as market participants opted to take profits in the light of a shaken political scenario in the Asian region.

  • Dow Jones Industrial Average: 135.39 / 0.62% / 21993.71
  • Standard & Poor’s 500: 24.52 / 1.00% / 2465.84
  • Nasdaq Composite: 83.68 / 1.34% / 6340.23

Marine Corps General Joe Dunford, the chairman of the Joint Chiefs of Staff met South Korean President Moon Jae-in on Monday to discuss a wide range of security matters. The top military official reassured capabilities already in South Korea are enough to protect the Asian nation against a strike from North Korea, while adding the US is looking for a peaceful solution.

"We are seeking peaceful resolution to the crisis right now. … We listen very carefully to Kim Jong Un’s rhetoric and we can’t afford to be complacent. … We have to take it seriously in regards to our defensive measures, and with regard to the development of military options in the event we are called upon to do that," Dunford stated.

Following this line of though, Secretary of State Rex Tillerson and US Secretary of Defense James Mattis said the Trump administration is looking forward to maintain diplomatic resolutions with Kim Jong-un’s government.

The CBOE Volatility Index, a key indicator of fear in the market, moved to 12.4, falling nearly 20 percent. The index reached a two year high last week following Trump’s tweets over the crisis.

No relevant reports were released on Monday. Ahead in today’s session, traders will keep an eye on retail sales for July, the import/export price indexes, NY Empire State manufacturing index for August as of 12:30 GMT. Business inventories for June are due at 14:00 GMT.

No comments :

Post a Comment

Subscribe to: Post Comments ( Atom )