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Stocks- U.S. Futures Point to Weak Opening Bell

Stock Markets Jan 10, 2018 06:49AM ET
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© Reuters. U.S. futures were down on Wednesday.
 
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Investing.com – Wall Street was set to open in the negative on Wednesday after Dow futures fell over 100 points.

The S&P 500 futures was down 10 points or 0.37% at 2,742.00 as of 6:46 AM ET (11:46 GMT) while Dow futures decreased 108 points or 0.43% to 25,265.0. Meanwhile tech heavy Nasdaq 100 futures fell over 32 points or 0.49% to 6,654.25.

Markets were pulling back from record highs on Wednesday amid concerns over the bond market, as the benchmark 10-year U.S. Treasury yield rose to its highest level since March, to 2.58%.

Photography firm Eastman Kodak Co (NYSE:KODK) was among the biggest gainers in pre-market trading, rising 47.74% after the company announced it was creating its own cryptocurrency. Meanwhile financial firms were up, with HSBC Holdings (LON:HSBA) PLC ADR (NYSE:HSBC) increasing 2.57% while ING Group NV ADR (NYSE:ING) rose 1.88% and Deutsche Bank AG (DE:DBKGn) NA O.N. (NYSE:DB) inched up 0.99%.

Elsewhere telecommunications firm Nokia (HE:NOKIA) Corp lost 2.24% while semiconductor Micron Technology Inc (NASDAQ:MU) was down 2.89% and movie theater company Imax Corp (NYSE:IMAX) decreased 2.69%.

In economic news, U.S. import and export prices index are set to come out at 8:30 AM ET (13:30 GMT), followed by wholesale trade figures at 10:00 AM ET (15:00 GMT).

Investors will also be listening in to speeches by key Federal Reserve members on Wednesday. Chicago Fed President Charles Evans will speak at the Lake Forest-Lake Bluff Rotary Club Foundation's 2018 economic breakfast while Dallas Fed President Robert Kaplan will give speeches at two events in Dallas and St. Louis Fed President James Bullard will present at a 2018 Economic Outlook event in St. Louis.

In Europe stocks were down. Germany’s DAX fell 107 points or 0.80% while in France the CAC 40 decreased 22 points or 0.41% and in London, the FTSE 100 was flat. Meanwhile the pan-European Euro Stoxx 50 was down 19 points or 0.53% while Spain’s IBEX 35 lost six points or 0.06%.

In commodities, gold futures rose 0.94% to $1,326.00 a troy ounce while crude oil futures surged 0.94% to $63.55 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.62% to 91.66.

Stocks- U.S. Futures Point to Weak Opening Bell
 

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NIRMESH KUMAR
NIRMESH KUMAR Jan 10, 2018 7:21AM ET
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