News Column

Futures Pointing To A Modestly Higher Open On Wall Street

June 20, 2014



WASHINGTON (Alliance News) - After showing a lack of direction over the course of the previous session, stocks may continue to experience choppy trading on Friday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 14 points.

An absence of major US economic data is likely to contribute to a lackluster performance on Wall Street as traders wait for the next catalyst to drive the markets.

Traders may look ahead to the release of a slew of economic data next week, including reports on new and existing home sales, durable goods orders, and personal income and spending.

The personal income and spending includes a reading on inflation that is favored by the Federal Reserve and is likely to be in focus in light of recent reports showing notable price growth.

Despite the recent indications of rising prices, the Fed said inflation has been running below the monetary policy committee's longer-run objective.

In her post-meeting press conference on Wednesday, Fed Chair Janet Yellen acknowledged that recent inflation data has been on "the high side" but also described the data as "noisy."

Due to the lack of economic data on the day, traders are likely to keep an eye on any major developments regarding the situation in Iraq.

On Thursday, President Barack Obama reiterated that he will not send American forces back into combat in Iraq but said the US will take steps to help the Iraqis as they take the fight to terrorists.



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Source: Alliance News


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