Aug 20, 2019

PreMarket | U.S. Index Futures Indicator: Dow futures point to a flat open after Monday's rally

Silvia Amaro

U.S. stock index futures were little changed on Tuesday morning.
Around 5:30 a.m. ET, Dow futures indicated a drop of less than 20 points at the open. Futures on the S&P and Nasdaq were both nearly flat.
Wall Street rose sharply on Monday as a rebound in bond yields continued, easing ongoing recession fears. The White House has also stepped in the ongoing debate over whether the U.S. economy will soon enter into recession mode, with President Trump saying that: “We’re doing tremendously well. Our consumers are rich. I gave a tremendous tax cut and they’re loaded up with money.”
Nonetheless, traders remain focused on U.S.-China trade relations, after the U.S. Commerce Secretary Wilbur Ross announced Monday that it was extending by another 90 days a temporary reprieve for Huawei to do business with American firms. The U.S. added another 46 Huawei affiliates onto the blacklist.
Meanwhile, traders will also be keeping an eye on the broader economy. On Wednesday, the Federal Reserve is scheduled to publish its latest meeting minutes. Investors are also likely to closely monitor the Fed’s Jackson Hole seminar and a G7 summit later in the week for clues on monetary policy settings.
On the data front, the Philly Fed non-manufacturing numbers will be out at 08:30 a.m. ET.
In terms of corporate earnings, Home Depot, Medtronic and Toll Brothers will be updating investors.

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