U.S. stock-index futures fell, indicating the Standard & Poor’s 500 Index may halt last week’s advance, as manufacturing in the New York area fell in August.
S&P 500 E-mini contracts expiring in September lost 0.4 percent to 2,082 at 8:34 a.m. in New York.
The S&P 500 gained 0.7 percent last week, with the benchmark index erasing its gain for the year before staging the biggest intraday turnaround in three years. The S&P 500 has been trading in the tightest trading range in nine decades.
Data today showed an index of manufacturing in the New York region dropped to minus 14.92, missing economists’ estimates of positive 4.5.
Investors are watching economic reports to gauge the economy’s health. The Federal Reserve releases minutes from its July meeting on Aug. 19, with market expectations of a September rate hike rising from a week before to about 50-50.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Dean Popplewell
He has a deep understanding of market fundamentals and the impact of global events on capital markets.
He is respected among professional traders for his skilled analysis and career history as global head
of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean
has played an instrumental role in driving awareness of the forex market as an emerging asset class
for retail investors, as well as providing expert counsel to a number of internal teams on how to best
serve clients and industry stakeholders.
Latest posts by Dean Popplewell (see all)
- Euro zone bond yields sink as German manufacturing slows - 24 July 2019
- How Boris Johnson Plans to Deliver Brexit in 100 Days - 24 July 2019
- Weak PMI’s Sink EUR - 24 July 2019