Stock futures barely opened lower today with investors standing-by to evaluate a fresh release of corporate earnings and key US economic data with the possibility of the Dow Jones Industrial Average’s eight straight loss. The Dow Jones stock market is up at mere 22.67 points today currently trading at 18,337 and change at the New York Stock Exchange.
The current environment of falling crude oil prices and shaky economic data caused the stock markets to suffer their worst day in nearly a month. Prior to yesterday’s plunge, a string of disappointing economic news has investors pricing in a potential rate hike by a one-eight chance by the end of next month (38% by December).
Barb Levy, chief director for The Fox Group’s futures division in Chicago, shared her fundamental view of the stock futures market by stating, “The uncertainty of the US economy has investors looking ahead to see if the world’s largest economy is healthy enough to have the Federal Reserve hike interest-rates later on this year.” Levy adds, “As time passes lately, the chances of higher interest-rates are dwindling.”
The trend for stock futures is clearly “up” – as with all stock markets at this time. Only with the Dow Jones stock market are we seeing a possible top formation forming, so more time needs to pass to see a clearer picture of things with stocks.
ALL COMMENTARY IS CONSIDERED OPINION & VIEWS FROM THE AUTHOR AND NOT A SOLICITATION OF ANY SECURITIES. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.