News Column

Futures Pointing To Roughly Flat Open On Wall Street

July 28, 2014

WASHINGTON (Alliance News) - After turning in a mixed performance last week, stocks may continue to experience choppy trading early on Monday. The major index futures are currently pointing to a roughly flat open for the markets, with the Dow futures up by just 2 points.

Uncertainty ahead of some potentially market-moving events later in the week may keep some traders on the sidelines.

The Federal Reserve's monetary policy announcement on Wednesday and the release of the Labor Department's monthly jobs report on Friday are likely to be two major focal points for the markets.

However, traders are also likely to keep an eye on reports on second quarter GDP, manufacturing activity, consumer confidence, and personal income and spending.

Not long after the start of today's trading, the National Association of Realtor is scheduled to release its report on pending home sales in the month of June.

Economists expect pending home sales to increase by about 0.5% in June after surging up by 6.1% in May.

A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.

Trading could also be impacted by reaction to developments overseas, as Israel has resumed its offensive in Gaza after accusing Hamas of violating a humanitarian truce.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Alliance News

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