Index futures are sporting caution early Wednesday as the market prepares to receive the all-important August consumer price inflation report. Vice President Kamala Harris is widely considered as the winner of the presidential debate held between her and Republican candidate Donald Trump late Tuesday, and this could prove to be slightly market-negative, given the former president is viewed as market-friendly. That said, there are specific sectors that could capitalize on the outcome, including green energy stocks.
The major market-moving catalyst for the day, however, is going to be the August consumer price inflation report, which along with Thursday’s producer price inflation report could be key inputs the Federal Reserve will look into as they make their interest rate decision following the conclusion of a two-day Federal Open Market Committee meeting next Wednesday.
Futures
Performance (+/-)
Nasdaq 100
-0.31%
S&P 500
-0.28%
Dow
-0.37%
R2K
-0.55%
In premarket trading on Wednesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) moved down 0.25% to $547.50 and the Invesco QQQ ETF (NASDAQ:QQQ) slipped 0.29% to $457.35, according to Benzinga Pro data.
Cues From Last Session:
U.S. stocks closed Tuesday’s session on a mixed note as risk aversion perked up following Oracle Corp.’s (NYSE:ORCL) strong results and the implication it had for the artificial intelligence trades. The major averages started on a firm footing but lost their momentum mid-way through, as they dipped below the unchanged line by the mid-session.
The mid-session weakness stemmed from a pullback in financial stocks after JPMorgan Chase & Co. (NYSE:JPM) gave a muted outlook at an industry conference. Energy stocks also served as drags after the WTI-grade crude oil ...
