Stocks- U.S. Futures Inch Up Ahead of Inflation Data
Investing.com – U.S. Futures pointed to a higher opening bell on Tuesday, as investors look ahead to inflation data.
The S&P 500 futures rose six points or 0.23% to 2,795.50 as of 6:42 AM ET (10:42 GMT) while Dow futures increased 68 points or 0.27% to 25,306.0. Meanwhile tech heavy Nasdaq 100 futures was up nine points or 0.13% to 7,175.0.
Markets closed in the red on Monday after rising over a positive jobs report on Friday. Investors are looking ahead to the consumer price index at 8:30 AM ET (12:30 GMT), a key indicator of inflation. Traders will pour over the data for any indication that the Federal Reserve will raise interest rates at its monetary policy meeting next week.
On Monday U.S. President Donald Trump blocked microchip maker Broadcom’s proposed takeover of Qualcomm (NASDAQ:QCOM) on national security claims, citing concern that the deal would have given China the advantage in mobile communications.
Qualcomm tumbled 4.63% in pre-market trading while rival Intel (NASDAQ:INTC) rose 0.83%.
Meanwhile semiconductor Micron Technology Inc (NASDAQ:MU) was up 2.73% while banking firm Banco Santander (MC:SAN) SA ADR (NYSE:SAN) increased 1.18% and mining company Rio Tinto ADR (NYSE:RIO) inched up 0.90%.
Elsewhere General Electric (NYSE:GE) fell 1.99% and textbook rental company Chegg Inc (NYSE:CHGG) dipped 3.68%.
On the earnings front, Volkswagen (DE:VOWG_p), Dick’s Sporting Goods Inc (NYSE:DKS) and MongoDB (NASDAQ:MDB) are among the firms expected to publish their earnings results.
In Europe stocks were mostly up. Germany’s DAX rose 24 points or 0.19% while in France the CAC 40 increased 20 points or 0.40% and in London, the FTSE 100 was down half a point or 0.01%. Meanwhile the pan-European Euro Stoxx 50 gained 14 points or 0.41% while Spain’s IBEX 35 rallied 78 points or 0.81%.
In commodities, gold futures were down 0.16% to $ 1,318.70 a troy ounce while crude oil futures rose 0.28% to $ 61.53 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.14% to 90.02.
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