Stock futures trade higher ahead of economic data, Fed decision


US equity futures are pointing to being more open ahead of Wednesday’s trading session, which would include the release of new economic forecasts from the Federal Reserve.

Leading futures indices are suggesting a gain of 0.3% when trading begins.

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Investors await the outcome of the US Federal Reserve policy meeting on Wednesday.

Federal Reserve policy makers are expected to keep the benchmark rate at near zero for some time to help the economy recover and a statement will be issued that economists say will support the markets Some language may change around its current pledge to buy bonds.

According to the August retail sales report, it will be another busy morning for economic data.

The Commerce Department is expected to report a 1% increase in retail sales for the month of August, slightly below the July small-than-expected 1.2% growth. If you go out of auto, sales in July are expected to grow by 0.9% from a strong growth of 1.9%.

The National Association of Homebuilders is out for September with its sentiment index. Look for it to be stable at 78. This would hit a record high of 78 in December 1998 and indicate that more than three-quarters of NAHB members find the conditions good.

It is necessary to implement economic rules, at least see for examples.

Japan’s long-serving Prime Minister Shinzo Abe resigned on Wednesday and was replaced by his chief cabinet secretary Yoshihi Suga. Suga said he intends to pursue Abe’s policies and little change is expected for the world’s third-largest economy.

In Asia, Tokyo’s Nikkei slipped 0.1%, Hang Seng 0.1% in Hong Kong and China’s Shanghai Composite Index slipped 0.4%.

In Europe, London’s FTSE slipped 0.1%, Germany’s DAX rose 0.2% and France’s CAC rose 0.1%.

The S&P 500 rose 0.5% to 3,401.20 on Tuesday after gaining more than 1% in the session, the second-straight gain of the benchmark index after the worst week since June.

The anchor Security The last Change Change %
Me: DJI Dow jones average 27995.6 2.27 + 0.01%
SP500 S&P 500 3401.2 17.66 + 0.52%
Me: comp NASDAQ Composite INDEX 11190.324043 133.67 + 1.21%

Big Tech stocks are bouncing back this week after a sudden major drop earlier this month amid concerns that their prices had climbed too high.

The Dow Jones Industrial Average closed down 0.1% at 27,995.60 points. Nasdaq, which is heavy with tech shares, climbed 1.2% to 11,190.32.

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A report showed that US industrial production strengthened last month, but not as much as economists had expected.

In other trades, US benchmark crude on the New York Mercantile Exchange rose $ 1 to $ 39.28 a barrel. It rose $ 1.02 to $ 38.28 a barrel on Tuesday.

The Associated Press contributed to this article.