On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
American equities decline ahead of earnings
On Wednesday, American equities extended their dives because market participants focused on earnings reports from corporate heavyweights.
As a matter of fact, the S&P 500 futures sank by 0.57% being worth 2,730.50. Dow futures dipped by 0.44% hitting 25,134.0. The Nasdaq 100 futures slipped by 0.67% reaching 7,092.50.
Boeing and AT&T are anticipated to post their outcomes before the morning bell. Market participants are going to wait for further clues on the influence of the US-China trade conflict on international companies, such as Boeing, for example.
Microsoft, Ford Motor Company, Visa, Tesla are all braced for reporting their outcomes after the bell. Besides this, Tesla managed to gain by up to 1.65%. As for Ford, it lost 0.35%. Moreover, Microsoft went down by 0.63%, while Visa headed north by up to 0.17%.
In addition to this, Netflix went down by 1.55%. Meanwhile, Intel sank by 1.12%. Fiat Chrysler Automobiles NV lost nearly 3.74%.
Furthermore, the house price index is expected to be uncovered at 9:00 AM ET. Besides this, the PMI composite flash is going to be disclosed at 9:45 AM ET. As for new home sales numbers, they are expected to show up at 10:00 AM ET.
A number of Fed speakers are also expected to deliver speeches today. In particular, market participants are eagerly looking forward to listen to St. Louis Fed President James Bullard, Atlanta Federal Reserve Bank President Raphael Bostic, Fed Bank Governor Lael Brainard as well as Cleveland Fed President Loretta Mester.
As for commodities, gold futures managed to ascend by up to 0.01% coming up with an outcome of $1,233.50 a troy ounce. Additionally, crude futures dived by 0.15% being worth $66.33 a barrel.
The USD index, a gauge of the greenback’s purchasing potential versus its main rivals, surged by 0.45% being worth 96.14.
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict…
On Tuesday, another US-China tariff conflict escalation put pressure on Asian stocks, although remarks from American leader that he expects trade talks to be successful backed market sentiment…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.