U.S. Stocks In Holding Pattern After Record Run, As Inflation Update Grabs Spotlight
Economists expect a 0.3% rise for consumer price index.
By Victor Reklaitis
MarketWatch
September 14, 2017
U.S. stock futures showed little change early Thursday, signaling the market may catch its breath after another round of records, though an inflation reading due before the open could provide a catalyst.
S&P 500 futures ESU7, -0.04% shed 1.20 points, or less than 0.1%, to 2,493.50, while Dow Jones Industrial Average futures YMU7, -0.01% lost 4 points to 22,108.00. Nasdaq-100 futures NQU7, -0.07% gave up 3.75 points to 6,005.25.
On Wednesday, the S&P SPX, +0.08% , Dow DJIA, +0.18% and Nasdaq Composite COMP, +0.09% all gained between 0.1% and 0.2%, finishing at all-time closing highs for a second straight session.
“The S&P 500 continues to confound skeptical investors, as it adds to its above-average number of new highs,” said Sam Stovall, CFRA’s chief investment strategist, in a note. The benchmark has scored 33 record closes this year, more than twice the annual average since 1945.
Economic news: Readings for a consumer price index and weekly jobless claims are due at 8:30 a.m. Eastern Time, with economists polled by MarketWatch forecasting a 0.3% rise in August for the inflation gauge and 300,000 claims.
The Federal Reserve “would love to see inflation picking up as the stagnating price growth has been an issue for the U.S. central bank,” said Konstantinos Anthis, an analyst at ADS Securities, in a note.
“Analysts are expecting a bullish reading from the States today, and this would help the dollar extend its current uptrend.”
The ICE U.S. Dollar Index DXY, -0.05% was lower Thursday, but it has gained about 1% this week, paring its year-to-date loss to around 9.6%.
Other markets: European stocks SXXP, -0.03% mostly edged lower, while Asian markets largely closed with losses after weaker-than-anticipated data on China’s industrial activity.
Oil futures CLV7, +0.65% and gold futures GCZ7, -0.01% were little changed.
U.S. stock futures showed little change early Thursday, signaling the market may catch its breath after another round of records, though an inflation reading due before the open could provide a catalyst.
S&P 500 futures ESU7, -0.04% shed 1.20 points, or less than 0.1%, to 2,493.50, while Dow Jones Industrial Average futures YMU7, -0.01% lost 4 points to 22,108.00. Nasdaq-100 futures NQU7, -0.07% gave up 3.75 points to 6,005.25.
On Wednesday, the S&P SPX, +0.08% , Dow DJIA, +0.18% and Nasdaq Composite COMP, +0.09% all gained between 0.1% and 0.2%, finishing at all-time closing highs for a second straight session.
“The S&P 500 continues to confound skeptical investors, as it adds to its above-average number of new highs,” said Sam Stovall, CFRA’s chief investment strategist, in a note. The benchmark has scored 33 record closes this year, more than twice the annual average since 1945.
Economic news: Readings for a consumer price index and weekly jobless claims are due at 8:30 a.m. Eastern Time, with economists polled by MarketWatch forecasting a 0.3% rise in August for the inflation gauge and 300,000 claims.
The Federal Reserve “would love to see inflation picking up as the stagnating price growth has been an issue for the U.S. central bank,” said Konstantinos Anthis, an analyst at ADS Securities, in a note.
“Analysts are expecting a bullish reading from the States today, and this would help the dollar extend its current uptrend.”
The ICE U.S. Dollar Index DXY, -0.05% was lower Thursday, but it has gained about 1% this week, paring its year-to-date loss to around 9.6%.
Other markets: European stocks SXXP, -0.03% mostly edged lower, while Asian markets largely closed with losses after weaker-than-anticipated data on China’s industrial activity.
Oil futures CLV7, +0.65% and gold futures GCZ7, -0.01% were little changed.
Stocks to watch: Shares in Lattice Semiconductor Corp. LSCC, +3.06% could see active trading after President Donald Trump nixed a pending buyout of the chip company by a group of Chinese investment funds, citing national security concerns.
Shares in Oracle Corp. ORCL, +0.06% could see active trading as the software giant is due to post quarterly earnings after the close.
Shares in Oracle Corp. ORCL, +0.06% could see active trading as the software giant is due to post quarterly earnings after the close.
Article Link To MarketWatch:
0 Response to "U.S. Stocks In Holding Pattern After Record Run, As Inflation Update Grabs Spotlight"
Post a Comment