BHP Stock – U.S. Stocks Set to Open Higher as Global Equities Advance Ahead of Fed Decision
U.S. stocks are set to open higher on Tuesday, following global stocks into the green as markets prepare for a key announcement on rates and fiscal policy from the Federal Reserve on Wednesday.
In Asia, Tokyo’s
rose 0.96%, while Hong Kong’s
slipped 0.71%. The
was 0.92% lower. The
in London rose 0.4%, opening at the highest level since February 2020, as the pan-European
was 0.3% higher and trading at fresh records. The
in Paris lifted 0.5% and Frankfurt’s
climbed 0.7%. The U.S. premarket looked set for a soft but positive open, with Dow industrials futures pointing up around 25 points, after the index fell 85 points to close at 34,393 on Monday.
Stocks around the world were trading near record high levels, as investors prepared for Wednesday’s decision from the Fed following the central bank’s June Federal Open Market Committee meeting.
“With the Federal Reserve set to announce its latest decision tomorrow, markets appear to be taking the line of least resistance, which is a slow incremental move higher with a ‘two steps forward and one step back’ approach, over the past week or so,” said Michael Hewson, an analyst at CMC Markets.
an analyst at FXTM, noted that “although the Fed is widely expected to leave interest rates and policy measures unchanged, all eyes will be on the statement language, updated economic projections and Chair
postmeeting press conference.”
“The Fed has managed to persuade markets that the current jump in inflation is transitory. The question is: for how long will they keep this mantra?”
stock climbed near 1.5% in European trading, while shares in
rose near 1% in the U.S. premarket, ahead of the expected settlement of a 17-year trade dispute between the European Union and U.S. over state aid to the aircraft manufacturers. Both companies, rivals, are jewels in the manufacturing crowns of the U.S. and Europe, and the long-running trade spat includes a cumulative $11.5 billion in tariffs on exports. A formal announcement on the agreement is expected on Tuesday, Bloomberg reported.
The price of copper fell, with copper futures down near 4%. London-listed mining giants that are major producers of copper dropped in tandem, with shares falling in
stock fell 2%, after blowout second-quarter sales at the fashion retail giant fell short of expectations. Sales in local currencies jumped 75% from March to the end of May compared with the same period in the year prior, to 46.51 billion Swedish kroner, which fell short of analysts’ expectations of SEK 48.09 billion.
the French multinational energy group, fell as much as 2% before settling 1.2% lower, after reports that one of its nuclear power plants in China could be experiencing a leak. EDF, which jointly owns the plant with the China General Nuclear Power Group, said on Monday that it was dealing with “performance” issues at the facility but that operations remained within safety guidelines.
In a busy day on the U.S. economic front, investors can expect retail sales data for May, the producer-price index for last month, the Empire State Manufacturing Survey for June, industrial production as well as business inventories for May, and the National Association of Home Builders’ June housing market index.
In terms of corporate earnings, cloud and software giant
reports after the close, alongside tax-preparation group