The major U.S. index futures are pointing to a nearly flat opening on Tuesday, with sentiment reflecting the uneasiness of traders due to a lack of clarity about the interest rate outlook. Two economic reports released a short while ago offered little direction. Retail sales growth for August was slightly softer than expected, although an upward revision to the previous month made up for the soft reading. At the same time, the New York Federal Reserve’s regional manufacturing survey, which gives the first glimpse into manufacturing conditions for the month, showed pessimism.
The mood across the Atlantic is also jittery. The dollar is subdued. Traders now turn their attention to the Federal Reserve’s industrial production report for August due in a short while from now.
U.S. stocks ended a lackluster session on Monday moderately lower, kick starting a data-heavy week that includes the FOMC announcement. The major averages opened slightly higher but turned lower immediately after. Thereafter, the averages languished in negative territory before ending in the red.
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Posted by Arnaldo Rodgers on 6:14 am, With 0 Reads, Filed under Economy. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.