US stocks set for a positive open as investors await inflation data
- Last week, President Donald Trump signed two declarations which would implement tariffs on steel and aluminum imports. Investors remain on edge over concerns that countries around the world may strike back.
- On the earnings front, Volkswagen, Dicks Sporting Goods and MongoDB are all expected to publish their latest financial figures.
U.S. stock index futures posted slight gains ahead of Tuesday’s open with investors monitoring some key economic data.
Around 5:30 a.m. ET, Dow futures were up 53 points, indicating a rise of 80.39 points at the open. The Nasdaq and the S&P 500 futures also indicated a positive open for their respective markets.
The moves in pre-market trade came after Wall Street finished mostly lower Monday, with the Dow Jones industrial average falling more than 150 points, as concerns surrounding a potential trade war resurfaced.
Last week, President Donald Trump signed two declarations which would implement tariffs on steel and aluminum imports. The tariffs are expected to take effect in the coming weeks and will see a 25 percent charge placed on steel, and 10 percent levy on aluminum — Canada and Mexico however are exempt. Investors remain on edge over concerns that countries around the world may strike back because of the tariffs.
In Tuesday’s session, economic data is set to dominate sentiment — particularly the releases concerning inflation. At 6 a.m. ET, the NFIB Small Business Optimism Index is due out, followed by a whole batch of core consumer price index (CPI) data, scheduled to be released at 8:30 a.m. ET.
On the earnings front, Volkswagen, Dick’s Sporting Goods and MongoDB are all expected to publish their latest financial figures.
Not a Scientific Survey. Results may not total 100% due to rounding.
Sticking with the corporate space, on Monday, Trump shut down Broadcom’s proposed buyout of Qualcomm, citing concerns based on national security. Both companies have been ordered to abandon this deal immediately.
No speeches by members of the U.S. central bank are scheduled to take place Tuesday.
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