Stock futures rise ahead of trading data


US stock futures were trading higher ahead of Wednesday’s Wall Street session.

The major futures indices suggest a 0.1% profit when trading begins.

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The Commerce Department will release the US trade balance for February. The monthly deficit in goods and services is expected to rise to a record $ 70.5 billion, surpassing the previous record of $ 69 billion in November.

Optimism about a global economic rebound from the pandemic is mounting.

President Biden said he will increase the coronavirus vaccine timeline for states by two weeks, until April 19, so that all adults in the U.S. are eligible for vaccines, reflecting steady progress. In the USA.

The International Monetary Fund said it expects global economic growth to accelerate this year as vaccine distribution increases and the world recovers. The 190-country lending agency said it expects the global economy to expand 6% in 2021, down from 5.5% it had forecast in January. That would be the fastest expansion on IMF records since 1980.

G20 FINANCE OFFICIALS TO MEET ON PANDEMIC MEASURES, US GLOBAL MINIMUM TAX PLAN.

On Wednesday, finance officials from the Group of 20 major economies are poised to back a $ 650 billion increase in the IMF’s emergency reserves and extend the freeze on debt payments as part of an effort to help developing countries still struggling to combat the COVID-19 pandemic. .

The G20 meeting will also give US Treasury Secretary Janet Yellen a chance to push for a global minimum tax on corporate profits.

The Commerce Department will release the US trade balance for February. The monthly deficit in goods and services is expected to rise to a record $ 70.5 billion, surpassing the previous record of $ 69 billion in November.

In Europe, London’s FTSE added 0.7%, Germany’s DAX gained less than 0.1% and France’s CAC was up 0.1%.

Asian stocks were mixed on Wednesday after Wall Street took a breather, with major indices falling.

Japan’s benchmark Nikkei index added 0.1%, Hong Kong’s Hang Seng fell 0.9% and China’s Shanghai Composite Index fell 0.1%.

Trading in Toshiba Corp.’s shares was halted after the Tokyo-based tech conglomerate confirmed it had received a preliminary acquisition proposal.

TOSHIBA OBTAINS AN ACQUISITION OFFER FROM PRIVATE EQUITY FIRM CVC

Toshiba Corp. said it was seeking more details on the proposal, giving it “careful consideration” and would make an announcement “in due course.” Japanese financial newspaper Nikkei reported that CVC Capital Partners was looking to acquire the company for 2 trillion yen ($ 18 billion).

Heart Security Latest Change Change %
Me: DJI DOW JONES AVERAGES 33430.24 -96.95 -0.29%
SP500 S&P 500 4,073.94 -3.97 -0.10%
I: COMP n / A n / A n / A n / A

On Wall Street, stocks ended slightly lower, pushing the market back from all-time highs reached a day earlier. Tech and healthcare stocks accounted for much of the decline.

The S&P 500 snapped a three-day winning streak, falling 0.1% to 4,073.94, after oscillating between small gains and losses. The Dow Jones industrial average fell 0.3% to 33,430.24. Both indices set all-time highs on Monday. The Nasdaq high-tech composite fell 0.1% to 13,698.38.

The US Department of Labor reported that job openings reached the highest level on record in February, a harbinger of healthy hiring and a sign of hope for job seekers. That upbeat report follows encouraging reports from the past week on job growth and improvements in the service sector, which is one of the areas of the economy hardest hit by the pandemic.

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In energy trading, benchmark US crude added 45 cents to $ 59.79 a barrel in e-commerce on the New York Mercantile Exchange. It gained 68 cents at $ 59.33 a barrel on Tuesday. Brent crude, the international standard, gained 57 cents at $ 63.31 a barrel.

Associated Press contributed to this report.

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