US equity futures were slightly higher in early Tuesday morning trading after the Nasdaq Composite and the S & P 500 hit record highs ahead of the Federal Reserve Board’s latest monetary policy meeting.
S & P 500 futures rose about 0.1%. Nasdaq 100 futures have also been added by 0.1%. The average futures of the Dow Jones Industrial Average was about 13 points higher.
There were few outstanding pre-market performers. Some reopenings, such as Boeing and Cruise Line, traded slightly higher at the beginning of Tuesday.
on Monday, S & P 500 rose 0.2% and closed with a new record of 4,255.15. However, the Dow fell 85 points.
The Nasdaq Composite is relatively outperforming, rising 0.8% and closing at a record high of 14,174.14. Investors are returning to growth stock as bond yields continue to decline. The 10-year Treasury interest rate hit a three-month low last Friday and remained around 1.5% on Monday. Yields on Tuesday fell again.
Bitcoin rose to $ 40,000 on Monday after Tesla CEO Elon Musk The company said on Sunday that it will resume Bitcoin Once it is confirmed that the miners have a reasonable use of clean energy, we will make a deal.
The Federal Reserve Board’s two-day policy meeting begins Tuesday and will be the focus of the market this week. Central banks are not expected to take any action. However, commentary on interest rates, inflation and the economy can drive market movements.
Traders listen carefully to comments on inflation and the Fed’s final tapering plan.
Billionaire Hedge Fund Manager Paul Tudor Jones He told CNBC on Monday that the Fed’s meeting could be the most important part of Jerome Powell’s career.Tudor Jones also warned Powell can cause a big sale of risky assets If he doesn’t do a good job showing the tapering of the Fed’s monthly asset purchases.
Investors will also look at another inflation gauge announced on Tuesday. Dow Jones estimates that the producer price index, which measures prices paid to producers rather than consumer-level prices, is expected to rise 0.5% in May. Core PPI, excluding volatile items such as food, energy and trade services, is estimated to increase by 0.4%.
May retail sales data will also be released at 8:30 EST. Economists polled by Dow Jones expect a 0.7% drop last month. With the exception of cars, economists expect retail sales in May to increase by 0.5%. April retail sales No change As the boost from the stimulus check fades.
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Equity futures have risen since the Nasdaq and S & P 500 set records.
Source link Equity futures have risen since the Nasdaq and S & P 500 set records.