The producer price inflation might get special attention on Tuesday. Fed speeches, especially Powell’s remarks during a moderate discussion with De Nederlandsche Bank President Klaas Knot also is closely watched by investors.
Geopolitical cues such as OPEC+ output policy is expected. The Biden administration might be raising tariffs on Chinese EVs, semiconductors, batteries, solar cells, steel, and aluminum.
In the Asian session, the dollar was firm and gold edged up, while oil dipped slightly.
Asian shares finished broadly lower, while European shares are trading mostly up.
As of 8.00 am ET, the Dow futures were up 32.00 points, the S&P 500 futures were adding 1.00 points and the Nasdaq 100 futures were declining 7.75 points.
The U.S. major averages eventually ended Monday narrowly mixed. While the Nasdaq rose 47.37 points or 0.3 percent to 16,388.24, the S&P 500 edged down 1.26 points or less than a tenth of a percent to 5,221.42 and the Dow dipped 81.33 points or 0.2 percent to 39,431.51.
On the economic front, the PPI-Final Demand for April will be revealed at 8.30 am ET.
The 52-week Treasury Bill auction will be held at 11.30 am ET.
Fed Governor Lisa Cook will speak on growth and change at community development financial institutions at an event hosted by the Federal Reserve Bank of New York at 9.10 am ET.
Fed Chairman Jerome Powell will participate in a moderated discussion with De Nederlandsche Bank President Klaas Knot at the annual general meeting of the Foreign Bankers’ Association at 10.00 am ET.
Kansas City Fed President Jeffrey Schmid will speak at the Agricultural Economic Summit, hosted by Kansas City Fed at 8.15 pm ET.
Asian stocks ended narrowly mixed on Tuesday. Chinese markets ended on a flat note.
The Shanghai Composite Index finished marginally lower at 3,145.77, while Hong Kong’s Hang Seng Index slipped 0.2 percent to close at 19,073.71.
Japanese stocks eked out modest gains. The Nikkei 225 Index rose 0.5 percent to 38,356.06, while the broader Topix Index closed 0.3 percent higher at 2,730.95.
Australian markets ended slightly lower. The benchmark S&P ASX 200 Index dipped 0.3 percent to 7,726.80, while the broader All Ordinaries Index settled 0.3 percent lower at 7,995.70.
European shares are trading mostly higher. CAC 40 of France is up 4.34 points or 0.05 percent. DAX of Germany is declining 25.96 points or 0.14 percent. FTSE 100 of England is progressing 17.95 points or 0.21 percent. The Swiss Market Index is sliding 25.86 points or 0.22 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.071 percent.
Business News
Wall Street Targets To Open Broadly Up
2024-05-14 12:27:11
