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Dow Futures Pointing Higher Open Ahead of Inflation Data – Market Outlook positive -

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    • Dow Futures Pointing Higher Open Ahead of Inflation Data – Market Outlook positive
Mar, 13th 13:23

Dow futures pointed to a higher open on Wall Street on Tuesday as investors waiting for inflation data. Dow futures gained 56 points or 0.22%. The S&P 500 futures also rose 5 points, or 0.19%, while the Nasdaq 100 futures edged forward 5 points or 0.07%.

The Commerce Department will publish February inflation figures at 12:30 GMT Tuesday which will be a key ingredient for the Federal Reserve to contemplate ahead of its March 20-21 monetary policy meeting.

Market analysts expect consumer prices to rise 0.2%, weakening from January’s 0.5% increase, while core inflation is forecast to inch up 0.2%, a touch slower than a month earlier, when core CPI recorded a 0.3% gain.

On a yearly base, core CPI is projected to climb 1.8%, unchanged from the preceding month. Core prices are viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure because they exclude the volatile food and energy categories. The central bank usually tries to aim for 2% core inflation or less.

U.S. President Donald Trump on Monday blocked microchip maker Broadcom’s proposed takeover of Qualcomm on national security grounds, ending what would have been the technology industry’s biggest deal ever amid concerns that it would give China the upper hand in mobile communications.

Qualcomm’s shares tumbled nearly 5% in pre-market trade on Tuesday while Intel was up 0.8%. There had been rumors that the Dow component was considering an alternative defensive bid as the Broadcom-Qualcomm hookup would increase competition.

On the technical charts, Dow30 is trading sideways and above all the moving averages (9 day, 20 day, 50 day, 100 day and 200 day). The RSI is at 53.24 and the MACD is above the signal line. The market is expected to trade in the positive zone.

Trade suggestion:

Buy digital Call options between 25279 and 25365, valid until 23:00 GMT March 13, 2018