Stock Futures Down Before S&P/Case-Shiller Home Price Index
Weak data in Europe has caused stocks to edge lower this morning while the US dollar surges. The market is anticipating second-tier retail sales figures, consumer confidence numbers, and housing data today. Investors are also looking for further clarification from Fed chairman Ben Bernanke.
90 minutes before the opening bell, Dow futures are down 27 points to 10,347 and S&P 500 futures are off 3.00 points to 1,104.50. Commodities are also broadly weaker with WTI Crude oil trading $1.54 lower to $78.77 per barrel and Spot Gold down $3.07 to $1,111.18.
Meantime, The US$ index is up 21 basis points to 80.71.
Economists from BMO point out that the German Ifo Survey for February unexpectedly dropped, initiating a sell-off. “Though the expectations component edged higher, the coldest winter in over a decade weighed on retail sales and construction causing the index to decline for the first time in 11 months,” they wrote. “Elsewhere in Europe, French consumer spending fell 2.7% in January, much worse than expected.”
Key Events Today:
Leave a Comment
By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...Late-Stage Delinquencies are Surging
Aug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...Published by the Federal Reserve Bank of San Francisco
It was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...