U.S. stock futures were slightly higher in early morning trading Tuesday after the Nasdaq Composite and S&P 500 registered new record highs ahead of the Federal Reserve’s latest monetary policy meeting.
Dow futures rose 48 points. S&P 500 futures and Nasdaq 100 futures both traded in mildly positive territory.
· Asian shares mixed, dollar strong as investors eye Fed meeting
Japan’s Nikkei rose 1.05% and the Australian benchmark, traded up 0.93%, but Chinese blue chips fell 0.97%.
This left MSCI’s broadest index of Asia-Pacific shares outside Japan trading flat.
China’s markets were closed on Monday for a holiday, meaning this was their first response to a joint statement by the Group of Seven leaders that had scolded Beijing over a range of issues which China called a gross interference in the country’s internal affairs.
However, futures indicated European and U.S. markets were set to open higher. U.S. stock futures rose 0.16%, Euro Stoxx 50 futures were up 0.39% and FTSE futures were up 0.31%.
· Indian shares at record highs as COVID-19 curbs ease, cases fall
Indian shares traded at all-time highs on Tuesday, as declining COVID-19 infections prompted more parts of the country to open businesses, with sentiment aided by upbeat broader markets.
The blue-chip NSE Nifty 50 index rose 0.52% to 15,894.15 and the benchmark S&P BSE Sensex climbed 0.56% to 52,851.33 by 0457 GMT.
· Inflow in Gold ETFs drops 57 pc to Rs 288 crore in May
With its safe-haven appeal and being one of the better performing asset classes in the last one and a half year, the Gold ETF category has been gaining significant traction from Indian investors.
The pan-European Stoxx 600 added 0.3% in early deals, with chemicals climbing 0.9% while oil and gas stocks dropped 0.6%.
· Jim Cramer: Own these stocks if the Fed leaves interest rates unchanged
CNBC’s Jim Cramer said Monday that investors should think about buying some industrial and energy names if the Federal Reserve keeps rates unchanged at this week’s meeting.
“These are the kind of companies that thrive when economies around the world are growing, and that’s exactly what I expect,” Cramer said.
The Fed is slated to start its two-day policy meeting on Tuesday. The central bank is not expected to move interest rates. However, investors will be looking for clues on whether the Fed has changed its stance on U.S. inflation. The meeting is set to wrap up on Wednesday.
· Boohoo sales rise 32% in latest quarter
· Court nod paves way for makeover of Thai Airways' $12.9 billion debt
-Thai Airways International Pcl won court approval on Tuesday for restructuring its $12.9 billion debt load as the airline that is already under bankruptcy protection seeks to turn around its fortunes.
Reference: Reuters, CNBC
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