The head of the Fitz-Gerald group, Keith Fitz-Gerald, and the president of Gibbs’ wealth management, Erin Gibbs, discuss the state of the markets today.
US stock futures are trading cautiously and seeking direction.
The main futures index indicates a gain of 0.1% at the opening clock.
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Shares fell on Wednesday as investors weighed on the possibility that inflation could prompt central banks to adjust their policies for ultra-low interest rates, despite assurances from the chairman of the Federal Reserve.
Federal Reserve Chairman Jerome Powell told Congress on Tuesday that the Fed does not see the need to change its policy of keeping interest rates ultra-low, noting that economic recovery ‘remains unequal and far from over. is not complete ‘.
FED’S POWELL SS OUR ECONOMIC OUTLOOK STILL ‘VERY UNSURE,’ BUT WIDER VACCINE ROLLOUT KEY
Since the start of the coronavirus pandemic, investors have pushed the prices of Big Tech stocks to stratospheric heights, betting that consumers would quarantine most of their shopping online and spend more on entertainment devices and services.
The bet mostly paid off. But the pandemic could reach its end stage, and millions of vaccines are now being administered every week in the US and around the world. This can cause consumers to return to their pre-pandemic habits.
In Europe, the London FTSE added 0.1%, the German DAX 0.8% and the French CAC 0.3%.
In Asia, the Nikkei 225 from Tokyo shook 1.6%, Hong Kong led the decline, losing by 3% and the Chinese Shanghai Composite Index gave up 2%.
The Hong Kong government has announced $ 15.4 billion worth of pandemic aid to help the area recover from the blow to its economy, which shrank by 6.1% last year.
As for the earnings front, a handful of retailers will post quarterly numbers on Wednesday; Lowe’s, TJX Companies and Overstock.com are facing the opening bell, with Victoria’s Secret parent L Brands being posted after closing. To the media, we will hear the morning of Sinclair Broadcast Group and the afternoon of ViacomCBS.
According to the economic calendar, the Census Bureau is expected to say that sales of new single-family homes rose 2.1% in January to a seasonally adjusted annual rate of 855,000.
HOME PRICES CLIMB AT THE FASTEST PASS IN 7 YEARS
A late-afternoon outburst on Wall Street on Tuesday helped reverse most of a technology-focused sell-off, fueling the S&P 500 to its first gain after five days of loss.
The benchmark index rose 0.1% to 3,881.37. The Dow Jones industrial average also rose 0.1% to 31,537.35. The Nasdaq lost 0.5% to 13,465.20. The indices peaked less than two weeks ago.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| Ek: DJI | DOW JONES AVERAGE | 31537.35 | +15.66 | + 0.05% |
| SP500 | S&P 500 | 3881.37 | +4.87 | + 0.13% |
| I: COMP | NASDAQ COMPOSITION INDEX | 13465.198124 | -67.85 | -0.50% |
Broadly speaking, investors remain focused on the future of global economies severely affected by COVID-19, and on the possibility of more stimulus to correct it. The U.S. House of Representatives is expected to vote on President Biden’s proposed stimulus package by the end of the week. That would include $ 1,400 checks to most Americans, additional payments for children and billions of dollars in aid to state and local governments, as well as additional aid to businesses affected by the pandemic.
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In other trades, U.S. benchmark crude added 28 cents to $ 61.95 a barrel in electronic trading on the New York Mercantile Exchange. It lost 3 cents on Tuesday to $ 61.67 a barrel. Brent crude, the international standard, rose 38 cents to $ 65.75 a barrel.
Associated Press contributed to this article.