US futures edge lower as investors await Warsh remarks and key economic data: Dow Jones, S&P, Nasdaq, Wall Street Markets begin the second half cautiously US stock futures traded lower on Wednesday ahead of the first session of the second half of the year, with investors…
eparing for comments from Federal Reserve Chair Kevin Warsh, fresh US manufacturing data and ongoing geopolitical developments in the Middle East. By 03:16 ET, Dow Jones futures were down 202 points, or 0.4%, while S&P 500 futures fell 33 points and Nasdaq 100 futures lost 195 points, both declining 0.4% and 0.6% respectively
Wall Street ended Tuesday’s session higher, capping a volatile second quarter with gains led by technology stocks. The Philadelphia Semiconductor Index also recorded another strong advance, delivering its best quarterly performance since the benchmark was launched in the early 1990s. Strong jobs data strengthens rate expectations Investor sentiment was tempered by mixed US economic data.
May job openings exceeded expectations, while housing and consumer confidence figures disappointed. Together with hawkish remarks from Cleveland Federal Reserve President Beth Hammack, the stronger labour market data reinforced expectations that the Federal Reserve could consider raising interest rates as early as July. All eyes on Kevin Warsh at Sintra Attention now turns to Federal Reserve Chair Kevin Warsh, who is due to speak later today during a panel discussion at the European Central Bank’s annual forum in Sintra, Portugal.