Pre-open mover
US stock futures traded higher in early premarket trading on Wednesday after the Nasdaq index closed more than 100 points lower in the previous session Meta Platforms, Inc. META shares.
The September PPI is released at 8:30 am ET. Producer prices, which fell 0.1% in August, are expected to rise 0.2% in September.
The Federal Open Market Committee will release minutes from its last meeting at 2:00 p.m. ET. Minneapolis Fed Chairman Neel Kashkari will speak at 10:00 a.m. ET, while Michael Barr, the Fed’s vice chairman for oversight, will speak at 1:45 p.m. ET. Federal Reserve Governor Michelle Bowman will speak at 6:30 p.m. ET.
Investors are also awaiting earnings results from PepsiCo, Inc. PEP and Wipro Limited JOKE.
Check this out: Market volatility rises ahead of inflation data
Futures on the Dow Jones Industrial Average climbed 101 points to 29,367.00, while futures on the Standard & Poor’s 500 Index rose 16 points to 3,615.25. Futures for the Nasdaq index rose 70.25 points to 10,915.25.
raw materials
oil prices Soared higher as Brent crude futures rose 0.4% to $94.63 a barrel, while US WTI crude futures rose 0.2% to $89.51 a barrel.
Gold futures fell 0.4% to $1,678.50 an ounce, while silver traded 1.3% to $19.23 an ounce on Wednesday.
A look at the global markets
Europe markets
European markets were lower today. The STOXX Europe 600 index fell 0.4%, London’s FTSE 100 fell 0.1%, while Spain’s IBEX 35 index fell 1%. France’s CAC 40 index fell 0.2%, while Germany’s DAX fell 0.3%.
Industrial production in the UK fell 1.8% mom in August versus a revised 1.1% drop in the previous month, while the country’s trade deficit widened to £7.1bn in August versus a revised 5.4bn. GBP in the previous month. The UK economy contracted 0.3%m/m in August versus a revised 0.1% increase in July. Production output in the UK…
