Wall Street is looking for direction
On Tuesday, American stock futures were volatile, making a vigorous attempt to shake off a global sell-off. At that time investors waited for jobs data for clear clues ahead this week’s testimony of Janet Yellen, the Fed’s chief.
A bit later earnings reports form the restaurant chain Wendy’s Co., drinks corporation Coca-Cola Co. and a drugstore operator CVS Health Corp. are expected to provide deep insight into consumer spending.
Futures for the key benchmarks have been fluctuating between small revenues and losses. For instance, Dow Jones Industrial Average futures dropped 15 points at 15,975, while the S&P 500 index lost just one point at 1,851. Meanwhile, Nasdaq futures approached to 3,964, thus gaining two points.
By the way, the search for direction actually matched moves on EU stock markets, where the Nikkei Stock Average closed 5% lower than expected. That undoubtedly contributed to anxiety in Asian trades overnight.
The constant pressure on crude oil prices as well as continuing worries regarding a downtime in the global economic growth seem to be driving the global stock sell-off. American stocks closed abruptly lower on Monday, though they ended off their worst level.