Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Top 5 Things to Know In the Market on Tuesday

EconomyMay 31, 2016 05:56AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Top 5 Things to Know In the Market on Tuesday

Investing.com - Here are the top five things you need to know in financial markets on Tuesday, May 31:

1. Global stocks mostly higher, dollar holds steady

U.S. stock futures pointed to a slightly higher open on Tuesday, as investors returning from the long Memorial Day weekend awaited data that could back some Federal Reserve officials' relatively optimistic views on the U.S. economy.

Elsewhere, European stock markets were marginally lower, but held near the prior day’s one-month peak as investors digested key euro zone inflation data.

Earlier, shares in Asia closed mostly higher, led by strong gains in China, where the CSI 300 surged 4% and the Shanghai Composite advanced 3.5% as investors bet that MSCI will add mainland shares to its index for the first time next month.

Meanwhile, the dollar index was little changed at 95.72, remaining within striking distance of a more than two-month high of 95.95 struck in the previous session.

2. U.S. data dump ahead

The Commerce Department will release its core personal consumption expenditure (PCE) index for April, along with personal income and spending for the same month at 12:30GMT or 8:30AM ET.

Afterwards, data on business activity in the Chicago region is due at 13:45GMT or 9:45AM ET, followed by the Conference Board’s report on May consumer confidence at 14:00GMT or 10:00AM ET.

Solid readings could further heighten expectations for a move as soon as the Federal Reserve's next policy meeting on June 14-15.

3. Euro zone deflation eases in May

The euro zone remained in deflation for a second straight month in May, although prices fell by less than in April due to a slowdown in the decline of energy prices, according to a first estimate from the EU's statistics agency.

In a report, Eurostat said consumer price inflation fell by a seasonally adjusted 0.1% this month, in line with forecasts, and following a final reading of a 0.2% drop in April.

The data is seen as unlikely to push the European Central Bank to make any changes to monetary policy when it meets on Thursday.

4. Oil prices hold near $50

Oil prices held near the $50-level on Tuesday, as market participants looked ahead to a key meeting of major oil producers later this week. The Organization of the Petroleum Exporting Countries will meet on Thursday in Vienna although no dramatic announcement on a production cut is expected.

Brent was down 23 cents, or 0.46%, at $50.13 a barrel by 9:55GMT, or 5:55AM ET, as market players focused on an improving global supply outlook.

Meanwhile, U.S. crude was up 15 cents, or 0.3%, to $49.48 lifted by the start of the peak demand summer driving season in the U.S.

5. Volkswagen falls on earnings disappointment

Shares of Volkswagen (DE:VOWG_p) lost 3% after the car maker reported a 19.3% decline in profit for the first quarter, missing analyst forecasts. However, the profit was still an improvement from its record full-year loss in 2015, indicating that the auto company has digested most of the financial pain from its emissions-cheating scandal.

Top 5 Things to Know In the Market on Tuesday
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email