Wall Street to jump on hopes US government shut down has been averted
|After Monday’s uninspiring session, US index futures are suggesting meaningful gains will be seen at the open after news that a deal had been struck to avert another US government shut down broke. The agreement hasn’t however been finalised and there’s also the matter of Trump’s border wall with Mexico which remains unanswered. Whilst funding border security, the agreement doesn’t include money for a physical barrier, but the President is vowing that it will be built regardless. An escalation of this could well prove negative for stocks.
The economic calendar remains incredibly quiet with JOLT job openings set to be the day’s main highlight. The long tail of earnings season continues too with a slew of smaller companies reporting although the combination of Denny’s and Molson Coors Brewing could well provide some insight as to consumer demand in the US. Further talk of progress when it comes to a trade deal with China also has the potential to be jumped upon – positive signals were seen last night, but with a leaders’ summit not taking place this month, extending the deadline for the next round of tariff increases should be seen as the priority.
Ahead of the open we’re calling the DOW up 147 at 25200 and the S&P up 14 at 2724.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.