Wall Street futures flat as investors weigh grim data, await Fed’s next steps By Reuters

Wall Street futures flat as investors weigh grim data, await


© Reuters. A man walks a dog in the shade past the New York Stock Exchange (NYSE) during hot weather in New York

By Medha Singh

(Reuters) – Futures tied to the S&P 500 were little changed on Wednesday after bleak consumer confidence data provided a sobering view on the health of the economy, while investors held back ahead of Federal Reserve Chair Jerome Powell’s speech this week.

With the COVID-19 pandemic far from over and little signs of progress between U.S. lawmakers over the next rescue package, all eyes will be on Powell’s address at the virtual Jackson Hole symposium on Thursday for an update on the Fed’s stance.

The S&P 500 and the Nasdaq hit a series of record closing highs recently, driven by stimulus and demand for tech-focused stocks, even as economic data reflected an uneven recovery from a recession. A survey on Tuesday showed U.S. consumer confidence was at a six-year low in August.

Salesforce.com Inc (N:), which is set to enter the blue-chip Dow index () next week, provided some succor with a 13.2% jump premarket after the cloud software maker raised its annual revenue forecast on surging demand for its online business software.

At 6:15 a.m. ET, were down 45 points, or 0.16%, S&P 500 e-minis were up 0.5 points, or 0.01% and were up 38 points, or 0.32%.

Nordstrom Inc (N:) tumbled 5.9% after reporting a bigger-than-expected loss, as its stores were shuttered for about half of the reported quarter and consumers stayed home with little need for designer clothes.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME