The trader works on the New York Stock Exchange (NYSE) on August 3, 2021.
Andrew Kelly | Reuters
Although US inflation has risen slower than expected, US stock futures began trading flat on Tuesday night after both the Dow Jones Industrial Average and the S & P 500 finished their regular sessions.
The Dow Jones Industrial Average futures contract rose 19 points, or 0.06%. S & P 500 and Nasdaq 100 futures each rose 0.09%.
In regular trading on Tuesday, the key average fell after recording five consecutive losses on Monday. The Dow fell 292.06 points (0.8%) to 34,577.57. The S & P 500 fell 0.6% to close at 4,443.05 and the Nasdaq Composite fell 0.5% to 15,037.76.
Ministry of Labor released data before Bell U.S. inflation rate rise shows less than expected Of August. Consumer prices have risen 5.3% from a year ago and 0.3% from July. With food and energy removed, the consumer price index rose only 0.1% this month.
Initially, the market recovered, but fell after the market opened as uncertainty about the timing of the Federal Reserve’s gradual decline in asset purchases subsided.
“The federal reserve is a Treasury bill and a mortgage-backed security, despite the slight signs that durable consumer goods price increases are temporary,” said Dawitt Kebede, senior economist at the credit union. Will delay the purchase of. ” National Association. “This is because we are far from maximum employment,” says one of the two goals of the Fed’s dual mission.
According to Brad McMillan, Chief Investment Officer of the Commonwealth Financial Network, the data was cooler than expected, but inflation is still skyrocketing.
“Inflation is likely to rise, at least for the rest of the year, and perhaps until 2022,” he said. “But we can see a change in the trend, which indicates that the basis basis is enabled and the economy is recovering.”
Stocks that led to economic recovery fell on Tuesday. United Airlines was down 2.1% and Bank of America was down 2.6%. General Electric fell 3.9%.
Casino stocks were a big hit as the Macau government sought to increase regulatory oversight of casinos and Chinese health officials reported an outbreak of Covid-19. Las Vegas Sands fell 9.7%, Wynn Resorts fell 10.8% and MGM Resort fell 3.9%.
Apple’s share price has fallen almost 1% since the company unveiled the iPhone 13 at its annual product launch event.
Wednesday is the final day of the SALT meeting in New York City. Regarding economic data, US import and export prices and mortgage application data will be released on Wednesday.
US Equity Futures Flattened Following Dow’s Loss of 290 Points
Source link US Equity Futures Flattened Following Dow’s Loss of 290 Points