Meanwhile, social media and technology stocks will be in focus following
US equities closed firmly lower Tuesday after the
The NASDAQ Composite, DJIA and S&P 500 all closed down between 0.1% and 0.5%
However, this negative sentiment looks set to be somewhat short-lived, with US stock futures pointing to a higher open Wednesday. The NASDAQ Composite is called to open up 0.4%, while the DJIA and S&P 500 are expected to open up 0.2%.
The online messenger service reported a quarterly revenue of
Encouragingly, active members reached 271 million as of
As a result, the stock is up 24% in premarket trading.
"It’s been a fairly slow start to the week so far, with volumes and volatility being hit from all sides," says
There is a raft of top-tier data still to be released from
The preliminary release of German consumer price inflation is due at
The German harmonised index of consumer prices, which is released at the same time, is forecast to increase 0.8% year-on-year in July, slower than the 1.0% rise in June. On a monthly basis, the HICP is expected to climb 0.3% in July following the 0.4% increase in June.
After this, "there will barely be time to pause for breath today once US data starts emerging," says
The latest ADP employment change report, which is widely regarded as a warm-up for the monthly non-farm payrolls on Friday, is released at
This is quickly followed by the initial estimate of US second quarter gross domestic product and personal consumption expenditures data at
However, "if the US falls short of expectations here, it may suggest that the impact of the first quarter slowdown has stretched beyond the quarter itself and had an impact on the overall recovery," says
The flash reading of US personal consumption expenditure prices is expected to show a 2.0% quarter-on-quarter rise in the second quarter, slightly higher than the 1.4% increase posted in the previous quarter.
Later on, after the
"The FOMC is unlikely to deliver any major surprises," says
In US data already released, the
In the forex market, ahead of the US equity market open, the pound trades at
Most Popular Stories
- More Hispanic Voters May Not Mean More Clout
- 2016 Camaro Shrinks, Moves to Caddy Platform
- Apple Pay Debuts With Few Issues
- Eric Garcia Appointed as Revenue Chief
- Government: 500 Million Records Stolen in 12 Months
- Stocks Subdued After Gains Earlier in Week
- Pistorius Gets 5-year Sentence in Shooting Death
- Mom Makes Toys R Us Pull 'Breaking Bad' Dolls
- Volatility No Reason to Bail on Stock Market
- Cuba Deploys More Medicos in Ebola Fight