Five Major Data Points Before Holiday
Two hours before the opening bell and one hour before three major data points hit the markets, stocks are looking to recovery from yesterday’s modest decline.
Futures on the Dow are trading 40 points higher at 10,445 while those on the S&P 500 are up 5.25 points to 1,108.
The US dollar is in 15-month rut this morning, “as risk appetite was boosted by some decent data and positive central bank talk,” according to BMO economist Benjamin Reitzes.
In line with recent trends, greenback weakness is driving up commodity prices of dollar-denominated assets. WTI Crude oil is up 23 cents to $76.25 per barrel and Spot Gold is up $10.42 to $1,179.82 per ounce. Reitzes notes that base metals too are stronger, “led by lead, zinc and copper, and grains prices are up about 1%.”
With markets closed tomorrow and Friday's schedule empty, today’s schedule is simply packed with important data.
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