Stock futures rise ahead of economic reports, tariff deadline

Traders return to work following the July 4th holiday with a plate full of economic reports to digest before the week ends.

Continue Reading Below

Dow Jones futures were up 0.35%. The S&P 500 added 0.41% and the Nasdaq Composite was up 0.41%.

Traders will get the first of this week’s employment-related reports starting with the ADP report on private sector hiring. The Reuters estimate is for 190-thousand jobs to have been created in June.

There will also be the release of weekly jobless claims, which are estimated to come in at 225,000.

Also on the agenda is the ISM non-manufacturing report which measures the services industry.

The Federal Reserve will also release the minutes of the last policy setting meeting.

The week will end on Friday with the release of the June Employment Report.

Analysts polled by Thomson Reuters expect that the U.S. economy added 195,000 jobs in June while the unemployment rate should hold steady at 3.8%.

The major U.S. stock indexes finished Tuesday’s session with losses – with the Dow and S&P 500 erasing earlier gains in the afternoon while the Nasdaq flipped from positive to negative shortly after trading commenced and its losses accelerated in the afternoon.

Ticker Security Last Change %Chg I:DJI DOW JONES AVERAGES 24174.82 -132.36 -0.54% SP500 S&P 500 2713.22 -13.49 -0.49% I:COMP NASDAQ COMPOSITE INDEX 7502.6735 -65.01 -0.86%

Thursday is the eve of trade sanctions that the Trump administration has threatened to impose on Chinese goods.

In Asian market trading,  China’s Shanghai Composite Index fell 0.9%

Hong Kong’s Hang Seng finished the day down 0.2%.

Japan’s Nikkei ended the day down 0.80%.

In Europe, London’s FTSE rose 0.28%, Germany’s DAX was up 1.00% and France’s CAC gained 0.66%.

Read More Here...

Bookmark the permalink.