Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

U.S. stock index futures were almost unchanged as investors awaited the opinion of Federal Reserve Bank of Chicago President Charles Evans for indications of the central bank’s policy.

Futures on the Standard & Poor’s 500 Index expiring in September slumped 0.15% to 1,702.1 at 11:55 a.m. in London. Contracts on the Dow Jones Industrial Average added 3 points, or less than 0.1%, to 15,557.

“There’s a bit of concern about the Fed tapering its stimulus, but bonds will probably suffer more than equities,” said for Bloomberg Enrico Carbonelli, a Lugano, Switzerland-based associate director of portfolio management at BSI SA, which oversees the equivalent of $93 billion. “The economy in the U.S. seems to be growing faster than Europe. With good data, we can see equities turn higher.” he added.

The S&P 500 fell 0.2% from a record high yesterday after Fed Bank of Dallas President Richard Fisher, who is known for his criticism of stimulus program, warned investors not to rely on the central bank’s $85 billion in monthly bond purchases. Evans is scheduled to speak to reporters today at 8:30 a.m. EDT in Chicago today. His statement will be heard at noon local time.

In recent corporate news, Washington Post Co. added 5.6% to $600.42 as Bezos, Amazons CEO, agreed to buy the newspaper of the same name. The company, which isnt selling its Kaplan education division and other businesses, plans to change its name.

IBM retreated 0.9% to $193.83 after the world’s biggest computer-services company said U.S. employees in its hardware division will take a week-off with one-third pay starting either Aug. 24 or Aug. 31. The company is cutting costs after demand for its servers continued to slow in the second quarter. Sales in the hardware business, which includes storage devices and microelectronics, lost 12% in the period from a year earlier to $3.76 billion.

Exactly 29 companies in the S&P 500 report earnings today, including Emerson Electric Co. and the Walt Disney Co. Of the 396 members that have posted quarterly results so far, according to Bloomberg 74% have exceeded analysts’ estimates for profit and 56% have beat sales projections.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: GBP/SEK daily forecastForex Market: GBP/SEK daily forecast During yesterday’s trading session GBP/SEK traded within the range of 11.2368-11.3400 and closed at 11.3395.At 6:10 GMT today GBP/SEK was gaining 0.06% for the day to trade at 11.3333. The pair touched a daily high at 11.3484 at 6:00 […]
  • Google and HP recall Chromebook 11 due to overheating issuesGoogle and HP recall Chromebook 11 due to overheating issues Google and Hewlett-Packard are halting sales of their recently released Chromebook 11 computer after several users reports saying the device’s charger has been overheating.The precautionary measure announced this week comes 5 weeks after […]
  • Forex Market: EUR/MXN daily forecastForex Market: EUR/MXN daily forecast During yesterday’s trading session EUR/MXN traded within the range of 17.6190-17.7780 and closed at 17.6360.At 8:46 GMT today EUR/MXN was gaining 0.04% for the day to trade at 17.6381. The pair touched a daily high at 17.6528 at 7:25 […]
  • US approves Rhode Island’s $1.5 bln offshore wind farmUS approves Rhode Island’s $1.5 bln offshore wind farm The US Federal Permitting Improvement Steering Council on Thursday gave final nod to the construction of a $1.5 billion offshore wind farm off the coast of Rhode Island.Known as Revolution Wind, the project is expected to generate a […]
  • Forex Market: USD/CAD daily trading forecastForex Market: USD/CAD daily trading forecast Yesterday’s trade saw USD/CAD within the range of 1.2493-1.2616. The pair closed at 1.2524, down 0.48% on a daily basis and extending losses from Friday.At 8:58 GMT today USD/CAD was down 0.20% for the day to trade at 1.2497. The pair […]
  • Trinity Capital funds a record $641.8 mln of investments in 2023Trinity Capital funds a record $641.8 mln of investments in 2023 Trinity Capital Inc, a provider of diversified financial solutions to growth-stage businesses, said on Monday that it had funded a record $641.8 million of investments for the entire 2023.The company also said it had originated $340.7 […]