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Sep 6, 2016

U.S. Stock Market Future Indications, by MarketWatch - September 6, 2016: U.S. Stocks Set To Open Higherb.


www.marketwatch.com


marketwatch.com

Victor Reklaitis
 
U.S. stock futures inched higher Tuesday, putting the market on track to add slightly to last week’s gain as traders returned from a three-day weekend.

S&P 500 futures ESU6, +0.07%  edged up by 3 points, or 0.1%, to 2,181, while Dow Jones Industrial Average futures YMU6, +0.08%  tacked on 26 points, or 0.1%, to 18,506. Nasdaq-100 futures NQU6, +0.08%  rose by 6.25 points, or 0.1%, to 4,801.50.
Analysts are bracing for the market to show more oomph after some August doldrums.
The “worst of the quiet summer period” has passed, and investors now “can expect to see trading volumes pick up significantly this week,” said Craig Erlam, senior market analyst at Oanda, in a note on Tuesday.
The U.S. stock market was shuttered on Monday in honor of the Labor Day holiday.
On Friday, the S&P 500 SPX, +0.42%  and Dow DJIA, +0.39%  both closed 0.4% higher and up 0.5% for the week. That came as a weaker-than-expected monthly jobs report bolstered the view that the Federal Reserve won’t raise interest rates in September, fueling a rally in stocks and other assets perceived as relatively risky.
Each stock gauge on Tuesday is within striking distance of its mid-August record closing high.
See: This could be a September to remember for investors
Other markets: The U.S. oil benchmark CLV6, +1.01%  traded higher, helped by Monday’s agreement between Russia and Saudi Arabia on monitoring crude prices. European stocks SXXP, -0.03% were slightly higher, gold futures GCZ6, +0.73%  gained, and a key dollar index DXY, -0.18% lost ground. Asian stock markets were broadly higher Tuesday, though Australian equities fell after the central bank there kept interest rates unchanged, and the Philippine benchmark fell after U.S. President Obama canceled a meeting with the country’s leader.
Obama scraps meeting after Duterte's tirade

President Barack Obama canceled a planned meeting with Rodrigo Duterte after the Philippine president's outburst.
Economic news: The August reading on Markit’s purchasing managers’ index for the U.S. service sector is expected to hit at 9:45 a.m. Eastern Time. The Institute For Supply Management’s non-manufacturing index for the same month is due at 10 a.m. Eastern.
“The services sector is hugely important to the U.S. economy, and so this data offers important insight into how the main engine of growth is likely to perform in the months ahead,” Erlam said.
Read more: Weak service sector data could further undercut hawkish Fed stance
On the Federal Reserve front, San Francisco Fed President John Williams is slated to speak in Reno, Nev., at 9:15 p.m. Eastern Time. He isn’t currently a voting member of the central bank’s policy committee
Check out: MarketWatch’s economic calendar
Individual movers: Shares in seeds and pesticides giant Monsanto Co. MON, +0.50%   rose 3% in premarket action after German chemicals titan Bayer AG BAYN, -0.71%  raised its bid for the U.S. company to $127.50 a share, up from $125 a share.
Shares of General Electric Co. GE, +0.29%  may be active later after the company said Tuesday it has agreed to acquire two European 3-D printing companies for a combined $1.4 billion, gobbling up Sweden’s Arcam AB ARCM, +53.49%   and Germany’s SLM Solutions Group AG AM3D, +37.64%  .
In the deal’s wake, U.S. 3-D printing companies Stratasys Ltd. SSYS, +2.81%  and 3D Systems Corp. DDD, +5.00%  both were up about 5% in premarket action. The 3D Printing ETF PRNT, +1.39%  , which launched in July and has not attracted much investor money, could see active trading Tuesday.
Chip maker Marvell Technology Group Ltd. MRVL, +1.09%  is among the companies on the earnings docket before the open.