News Column

Futures Pointing To Early Weakness On Wall Street

June 3, 2014



WASHINGTON (Alliance News) - Stocks are likely to move to the downside in early trading on Tuesday, giving back some ground after trending higher over the past several sessions. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 27 points.

Profit taking may contribute to some early weakness on Wall Street after the Dow and the S&P 500 both managed to end yesterday's choppy trading session at new record closing highs.

Activity may be somewhat subdued, however, as traders may be reluctant to make any significant moves ahead of the European Central Bank meeting on Thursday and the release of the US monthly jobs report on Friday.

Not long after the open, the Commerce Department is scheduled to release its report on factory orders in the month of April.

Economists expect factory orders to increase by about 0.5% in April after jumping by 1.1% in the previous month.

Nonetheless, the factory orders report does not typically have a big impact on the markets due to the volatility of the data and the fact that it is usually viewed as old news.



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Source: Alliance News


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