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Sep 25, 2018

Before the bell: US futures fluctuate as political turmoil keeps investors on edge I CNBC


Alexandra Gibbs


U.S. stock index futures eked out gains ahead of Tuesday's open.
Around 6:00 a.m. ET, Dow futures rose 34 points, indicating a positive open of 52.95 points. Futures on the S&P 500 indicated a positive open of 4.48 points, while Nasdaq futures signaled an open of 8.50 points up. The moves in pre-market trade come after U.S. stocks fell deep into the red during the previous session.
Traders work on the floor of the New York Stock Exchange.
Bryan R. Smith | Getty Images
Traders work on the floor of the New York Stock Exchange.
In the ongoing U.S.-China trade war, China's Vice Commerce Minister Wang Shouwen said Tuesday that it was tough to proceed with trade negotiations at present and that it would be dependent on the "will" of the United States as to when talks would resume, according to Reuters.
Stocks on Wall Street dropped to session lows shortly after trading started Monday, following reports that Deputy Attorney General Rod Rosenstein was about to resign or be dismissed. The White House later issued a statement, however, saying that Rosenstein and Donald Trump would meet Thursday, amid conflicting reports.
In data, the Philadelphia Fed's Non-manufacturing Business Outlook survey is set to come out at 8:30 a.m. ET; followed by the S&P Corelogic Case-Shiller House Price Index and the FHFA House Price Index at 9 a.m. ET; consumer confidence figures and the Richmond Fed's Survey of Manufacturing Activity at 10 a.m. ET; and the Dallas Fed's Texas Service Sector Outlook survey at 10:30 a.m. ET.
Manchester United, FactSet, Nike and KB Home are all scheduled to publish their latest corporate earnings reports.
The Federal Open Market Committee will begin its two-day monetary policy gathering today, with analysts expecting the U.S. Federal Reserve to announce a quarter-point rate hike when it concludes its meeting tomorrow.
The event will be watched closely to see if the central bank provides any signals as to where monetary policy will be heading over the coming months and into next year.