MARKET SNAPSHOT: U.S. Stocks Set For 4th Straight Day Of Gains Ahead Of Fed Speakers, Flash PMIs
23 May 2017 - 10:15AM
Dow Jones News
By Sara Sjolin, MarketWatch
Cautious start for European stocks after suspected suicide
bombing in Manchester
U.S. stocks headed for a fourth straight session of gains on
Tuesday, with futures creeping higher before a round Federal
Reserve speakers and readings on the manufacturing and services
sectors in May.
Futures for the Dow Jones Industrial Average gained 47 points,
or 0.2%, to 20,925, while those for the S&P 500 index climbed
4.30 points, or 0.2%, to 2,397.25. Futures for the Nasdaq-100 index
picked up 12.50 points, or 0.2%, to 5,714.50.
The small advances come after all three benchmarks ended
Monday's session with gains
(http://www.marketwatch.com/story/us-stocks-poised-for-a-steady-open-as-investors-watch-for-the-next-catalyst-2017-05-22),
rallying after last week's losses as tech and industrial stocks
rallied.
Markets in Europe traded slightly higher on Tuesday after a
cautious start following the suspected suicide bombing at an Ariana
Grande concert
(http://www.marketwatch.com/story/death-toll-rises-to-22-in-suspected-suicide-bombing-in-manchester-2017-05-23)
in Manchester, England, on Monday night that left at least 22
people dead.
Economic news: On Tuesday in the U.S., attention turned to Fed
speakers, ahead of the release on Wednesday of the central bank's
minutes from its May 2-3 meeting.
At 9 a.m. Eastern Time, Minneapolis Fed President Neel Kashkari
is slated to meet with reporters covering the bank's conference on
opportunity and inclusive growth
(https://www.minneapolisfed.org/institute/conference-series/opportunity-inclusive-growth-institute-conference).
At 3:15 p.m., he'll meet with reporters again in a round-table
discussion on building economic well-being in Native American
communities.
Philadelphia Fed President Patrick Harker is due to give a
speech on the economic outlook at an event in New York at 5 p.m.
Eastern.
Also on Tuesday's economic docket, May flash readings on
purchasing managers indexes for services and manufacturing come out
at 9:45 a.m., and new home sales for April are due at 10 a.m.
Stock movers: Shares of Agilent Technologies Inc.(A) rose 4.3%
in thin premarket volume after the maker of scientific equipment
late Monday raised its earnings and revenue guidance for 2017.
Other markets: Oil prices slipped, coming off a one-month high
reached on Monday amid hopes the Organization of the Petroleum
Exporting Countries will extend production cuts into next year.
Gold prices also dropped and the dollar traded mainly lower.
Asian stocks closed mixed.
(END) Dow Jones Newswires
May 23, 2017 05:00 ET (09:00 GMT)
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