Wall Street is braced for flat start

Wall Street is braced for flat start

On Monday, American stock index futures stood still, having reached a closing maximum in the previous trading session due to the fact that market participants awaited a fresh pack of earnings reports and sentiment was backed by positive consumer spending data.

According to a Commerce Department report, in March, domestic consumer spending ascended by the most for over 9-1/2 years, although price pressures were still muted.

Without energy and food, the core personal consumption expenditures price index was intact, sticking with 0.1% last month.

The Federal Open Market Committee is going to uncover its interest rate verdict at the end of a two-day gathering, which will start on Tuesday.

Moreover, up to 160 S&P 500 businesses, including Apple and Alphabet are expected to post their quarterly outcomes.

Experts currently expect gains of S&P 500 companies to slump by 0.3%, which appears to be an abrupt improvement from a 2% dive estimated at the beginning of April.

As trade negotiations enter their last leg, American negotiators make their way to China on Tuesday to negotiate details to conclude the protracted tariff clash between the two leading economies.

Expectations for a trade resolution as well as a dovish Fed stance has sparked a soar in shares from a dive late last year, bringing the S&P 500 index 0.04% down of its all-time maximum of 2,940.91 points reached in September.

ET, Dow e-minis rallied by 0.03%. Additionally, S&P 500 e-minis were intact, while Nasdaq 100 e-minis tumbled by 0.02%.

Among shares, Walt Disney managed to ascend by 1.5%.

Besides this, Boeing slumped by 0.9%, while Alphabet Inc ascended by 0.2%.


Latest news

USD starts the week with gains
USD starts the week with gains

Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.

ECB report is in focus
ECB report is in focus

The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time. 

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