Investing.com - U.S. stock futures pointed to a steady open on Tuesday, as market players looked ahead to key U.S. data on durable goods orders and new home sales later in the day and as volumes remained light ahead of the Christmas holiday.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.06% gain, S&P 500 futures signaled a flay open, while the Nasdaq 100 futures indicated a 0.02% decline.
U.S. stock markets are set to close Tuesday at 1 p.m. Eastern Time for Christmas Eve, then reopen Thursday. Trading volumes are expected to remain light as many traders already closed books to lock in profit before the end of the year.
Market sentiment remained supported amid indications the U.S. economic recovery is deepening. The Commerce Department said Monday that U.S. personal spending rose 0.5% last month, the highest since June.
Investors looked ahead to U.S. data on durable goods orders and new home sales later in the day to gauge if the U.S. economy will be strong enough to allow the Federal Reserve to continue withdrawing support through 2014.
U.S. equities had rallied last week after the Fed announced that it would reduce its USD85 billion-a-month bond buying program by USD10 billion in January.
Across the Atlantic, European stock markets were mixed in holiday-thinned trade. France’s CAC 40 inched down 0.15%, while Britain's FTSE 100 rose 0.5%. Markets in London were to close at 12:30 p.m. London time, or 7:30 a.m. Eastern Time, while markets in France are due to close around 1 p.m. London time for Christmas Eve.
Several other European stock markets are fully closed for trade. Bourses in Germany, Italy, Greece, Switzerland and Scandinavia are all set to remain shut.
Meanwhile, in Asia, stock markets were broadly higher amid mounting optimism over the health of the U.S. economy and after the People’s Bank of China injected liquidity to the financial system.
The PBOC injected USD4.7 billion through open-market operations for the first time in three weeks on Tuesday, sending borrowing costs to around 5.5%, well off the previous day’s high of nearly 9%.
In Tokyo, the Nikkei rallied to the highest level since 2007 before trimming gains to end up 0.12% as traders monitored movements in the currency market.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.06% gain, S&P 500 futures signaled a flay open, while the Nasdaq 100 futures indicated a 0.02% decline.
U.S. stock markets are set to close Tuesday at 1 p.m. Eastern Time for Christmas Eve, then reopen Thursday. Trading volumes are expected to remain light as many traders already closed books to lock in profit before the end of the year.
Market sentiment remained supported amid indications the U.S. economic recovery is deepening. The Commerce Department said Monday that U.S. personal spending rose 0.5% last month, the highest since June.
Investors looked ahead to U.S. data on durable goods orders and new home sales later in the day to gauge if the U.S. economy will be strong enough to allow the Federal Reserve to continue withdrawing support through 2014.
U.S. equities had rallied last week after the Fed announced that it would reduce its USD85 billion-a-month bond buying program by USD10 billion in January.
Across the Atlantic, European stock markets were mixed in holiday-thinned trade. France’s CAC 40 inched down 0.15%, while Britain's FTSE 100 rose 0.5%. Markets in London were to close at 12:30 p.m. London time, or 7:30 a.m. Eastern Time, while markets in France are due to close around 1 p.m. London time for Christmas Eve.
Several other European stock markets are fully closed for trade. Bourses in Germany, Italy, Greece, Switzerland and Scandinavia are all set to remain shut.
Meanwhile, in Asia, stock markets were broadly higher amid mounting optimism over the health of the U.S. economy and after the People’s Bank of China injected liquidity to the financial system.
The PBOC injected USD4.7 billion through open-market operations for the first time in three weeks on Tuesday, sending borrowing costs to around 5.5%, well off the previous day’s high of nearly 9%.
In Tokyo, the Nikkei rallied to the highest level since 2007 before trimming gains to end up 0.12% as traders monitored movements in the currency market.