Pre-open mover
US stock futures traded higher in early premarket trade on Wednesday after posting sharp losses on Tuesday following the release of August inflation data. All three major indices settled significantly lower, posting their largest single-session percentage declines since June 2020.
The PPI for August is released at 8:30 am ET. Producer prices cooled more than expected in July, falling 0.5% over the month. Analysts, meanwhile, expect producer prices to fall by 0.1% over the month, with the annual rate expected at 8.7%.
Investors are also awaiting earnings results from BRP Inc. DOOO and Tsakos Energy Navigation Limited TNPshould be published today.
Check this out: Market Volatility Jumps After US CPI Data
Futures on the Dow Jones Industrial Average rose 138 points to 31,241.00, while futures on the Standard & Poor’s 500 Index rose 22.75 points to 3,954.00. Futures for the Nasdaq index rose 72.75 points to 12,109.25.
raw materials
oil prices Traded slightly higher as Brent crude futures rose 0.3% to $93.49 a barrel, while US WTI crude futures rose 0.2% to $87.49 a barrel. According to the American Petroleum Institute, US crude stocks rose by over 6 million barrels last week. The Energy Information Administration’s weekly report on US petroleum stocks is scheduled for release at 10:30 am ET.
Gold futures were down 0.2% to trade at $1,713.90 an ounce, while silver traded almost unchanged at $19.49 an ounce on Wednesday.
A look at the global markets
Europe markets
European markets were mostly lower today. The STOXX Europe 600 index fell 0.3%, London’s FTSE 100 fell 0.8%, while Spain’s IBEX 35 index rose 0.5%. France’s CAC 40 index fell 0.2%, while Germany’s DAX fell 0.3%.
Euro-zone industrial production fell 2.3% mom in July, after a revised 1.1% rise in the previous month. Annual inflation in the UK fell to 9.9% in August from…
