U.S. stock index futures were slightly lower Monday on U.S. hike bets.The Dow futures was down 0.05% at 06:15 ET as the S&P 500 futures shed 0-03%.The tech-heavy Nasdaq (NASDAQ:NDAQ) futures gave up 0.07%. Hawkish remarks Friday by Fed officials pushed up the dollar and sank oil futures. Market pricing in 36% chance of September hike, up from 21% before Fed speak.
An upbeat assessment of the U.S. economy’s strength from Fed Vice Chairman Stanley Fischer on Sunday was seen raising the prospect of Fed chair Janet Yellen flagging up a rate rise at a meeting with the world’s central bankers on Friday.
The dollar index, which tracks the greenback against a basket of six major currencies, rose 0.2 percent to 94.718 (DXY), pulling away from a six-week low hit last week after minutes of the Fed’s last policy meeting showed rate-setters split on when to hike.
European stocks fell 0.11 percent (STOXX), having received a temporary boost in early trading by Syngenta after its proposed takeover by ChemChina was approved by U.S. regulators. (EU)
Asian stocks closed lower, while U.S. stock futures (ESc1) pointed to a weaker open for Wall Street shares.nvestors are jittery about this week’s gathering of central banking Jackson Hole, Wyoming on Thursday, with Yellen due to speak the following day.
Interest rate futures contracts indicate that the market is pricing in about 50/50 odds of a U.S. rate increase by the end of the year.
Oil prices fell on Monday as analysts said they doubted upcoming producer talks would rein in oversupply. [O/R]Soaring exports of refined products from China also pressured prices, as this was seen as the latest indicator of an ongoing global fuel glut,
Brent crude futures (LCOc1) were trading at $49.94 per barrel at 0712 GMT, down $1.56, or 3.07 percent, Crude futures have risen almost $10 a barrel since early August on speculation that Saudi Arabia and other members of the OPEC will agree next month to a production freeze deal with non-OPEC producers led by Russia.
U.S. crude (CLc1) fell 2.7 percent to $47.20 after gaining 9 percent last week, rising for a second straight week.
Gold fell on Monday to its lowest in more than a week as the dollar strengthened, before recovering slightly. Overall, spot gold was down 0.37 percent at $1,336 an ounce, having hit a low of 1,331.35 an ounce at one stage.
Our Some Best Services Read it Here…
www.capitalstars.com | T:+91-731-6790000,6669900