Dow Futures Pointing Towards Flat Opening, Ahead Of Earnings, Data
Feb, 22nd 13:28
Dow futures fell into the red ahead of Thursday’s open, as talk about higher interest rates reawakened fears in U.S. markets.
Dow futures were down 7 points, indicating a flat opening on Thursday. The Nasdaq and S&P 500 futures also pointed to a flat-to-positive open for their respective markets.
Investor anxiety was brought back to the surface Wednesday after minutes from the Federal Reserve’s latest meeting revealed that members saw an uptick in inflation and increased economic growth as reasons for the central bank to continue its path on raising interest rates gradually.
In corporate news, Hormel Foods, Bloomin’ Brands, Shutterstock, Wayfair, Hewlett Packard Enterprise, HP, Intuit, GoDaddy, and Wingstop are due to publish their latest earnings.
In economic data, initial jobless claims will be released at 8:30 a.m. ET, followed by The Conference Board’s Leading Economic Index at 10 a.m. ET and the Kansas City Fed manufacturing index, due out at 11 a.m. ET.
On the technical charts, Dow30 is trading sideways and is trading below the 100 day and the 200 day moving averages. Currently, the market is trading above the 9 day, 20 day and the 50 day moving averages. The RSI is at 45.48 and the MACD is above the signal line. The market is expected to trade Flat-to-positive.
Buy digital Call option between 24796 and 24898, valid until 23:00 GMT February 22nd, 2018