US markets suffered heavier falls that those in the
Following the Thursday's decline, US investors are re-focusing on the economic data and corporate earnings that had previously been doing a good job of supporting equity valuations, although sentiment is likely to remain cautious given the potential for further political deterioration.
Futures trading indicates that both the DJIA and the S&P 500 open about 0.1% higher Friday, while the Nasdaq Composite is set to open about 0.3% higher.
"You could say that both events were fully priced into US indices on Thursday, given that the markets closed after the Israeli ground offensive was announced," said Alpari analyst
US economic data has been improving recently, with Thursday having brought a small improvement in weekly jobless claims, and a huge jump in the Philadelphia Fed manufacturing index to a three-year high of 23.9.
Economists are looking for the data improvement to continue Friday, with the Reuters/
Ahead of the
Although the markets currently look set for a relatively quiet afternoon, any geopolitical development clearly have the potential to move markets. There are conflicting reports over whether or not the ill-fated
Moreover, trouble spots in the
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