Fed Chairman Jerome Powell’s testimony before the Senate Banking Committee might be the highlight on Tuesday. Inflation uncertainties and new tariffs to be announced by President Trump are keenly observed by investors.
Early trends from the U.S. Futures Index suggest that Wall Street might open lower.
Gold gained in the Asian trading session, while the dollar was firm. Oil extended sharp overnight gains, as oversupply concerns were eased due to production lower than OPEC’s projections.
Asian shares finished mixed, while European shares are trading broadly up.
As of 7.40 am ET, the Dow futures were down 86.00 points, the S&P 500 futures were declining 16.75 points and the Nasdaq 100 futures were tumbling 98.25 points.
The U.S. major averages finished in positive territory on Monday. The Nasdaq jumped 190.87 points or 1.0 percent to 19,714.27, the S&P 500 climbed 40.45 points or 0.7 percent to 6,066.44 and the Dow rose 167.01 points or 0.4 percent to 44,470.41.
On the economic front, the 3-year Treasury Note auction will be held at 1.00 pm ET.
Fed Chair Jerome Powell will deliver semi-annual monetary policy report before the U.S. Senate Committee on Banking, Housing, and Urban Affairs at 10.00 am ET.
Cleveland Fed President Beth Hammack will speak on the economic outlook before the University of Kentucky Gatton School of Business and Economics 2025 Economic Outlook Conference at 8.50 am ET.
New York Fed President John Williams will give keynote remarks before the Pace University Economics Society at 3.30 pm ET.
Fed Governor Michelle Bowman will speak on Bank Regulation before the 2025 Iowa Bankers Association Bank Management and Policy Conference at 3.30 pm ET.
Asian stocks ended mixed on Tuesday. Chinese and Hong Kong stocks were lower.
China’s Shanghai Composite index slid 0.12 percent to 3,318.06. Hong Kong’s Hang Seng index fell 1.06 percent to 21,294.86.
Japanese markets closed for a public holiday. Australian markets finished marginally higher.
European shares are broadly up. CAC 40 of France is trading up 0.68 points or 0.01 percent. DAX of Germany is gaining 8.85 points or 0.04 percent. FTSE 100 of England is adding 4.78 points or 0.05 percent. The Swiss Market Index is gaining 49.17 points or 0.39 percent.
Euro Stoxx 50 that provides a Blue-chip representation of supersector leaders in the Eurozone, is progressing 0.095 percent.
Business News
Wall Street Poised To Open Lower Ahead Of Powell’s Testimony
2025-02-11 13:07:59
