Stock index futures edged higher Wednesday morning as Wall Street predicted a strong start to the week ahead of a key inflation report.
Futures and Dow Jones Industrial Average It rose 24 points, or less than 0.1%. S&P 500 Index Futures also rose less than 0.1%, while Nasdaq 100 Futures Slightly above flat line.
Futures are trading modestly higher after a sharp rally in stocks on Tuesday. this Dow Chemical It rose more than 400 points, or about 1%. this S&P 500 Index rose 1.7%, while Nasdaq Index up 2.4%.
Currently, all three major moving averages are above closing levels on August 2, the previous trading day for global stocks. Market sell-off on August 5 This appears to be related to the easing of Japanese trade and concerns about economic growth.
The speed of the rebound has some Wall Street professionals uneasy.
“I’m not surprised by our rebound. I’m just surprised by the speed and the extent of our rebound,” said Mohamed El-Erian, chief economic adviser at Allianz. “Door bell.”
The market did get some good news on Tuesday Producer Price Index Report Inflation was lower than expected. this Wednesday’s consumer price index report The same could drive trading action in the upcoming session.
However, even a lower-than-expected CPI report may not be enough to encourage investors worried about recent signs of weakness in the U.S. labor market.
“I think the risk of inflation is much lower than the risk of unemployment,” El-Erian said.
