Yahoo Finance U.S. stock futures point to higher open as risk-off sentiment recedes
Investing.com – Wall Street futures pointed to a higher open on Tuesday with even the Nasdaq looking set to break a three-day losing streak as another quiet session allows risk-off sentiment to wane.
The blue-chip Dow futures gained 22 points, or 0.10%, at 6:53AM ET (10:53GMT), the S&P 500 futures edged forward 2 points, or 0.06%, while the tech-heavy Nasdaq 100 futures rose 16 points, or 0.27%.
Tuesday will be another session with no major economic reports in a week that will culminate with a gathering of central bankers at the Jackson Hole Economic Symposium in Wyoming, including speeches by Federal Reserve chair Janet Yellen and European Central Bank president Mario Draghi.
The appearances from the two central bank chiefs will be the week’s main event as markets look for further indications of a shift away from extremely accommodative monetary policy.
While waiting for symposium to kick off, the dollar rebounded on Tuesday from more-than-one-week lows hit in the prior session as markets continued to monitor geopolitical developments and tensions between North Korea and the U.S. remained on the radar.
U.S. President Donald Trump's top priority is to protect the U.S. and its allies against the "growing threat" from North Korea, and America is ready to use "the full range of capabilities at our disposal," a U.S. envoy said on Tuesday.
North Korea unveiled a propaganda video of its threat to fire missiles near the U.S. territory of Guam.
Pyongyang threatened the U.S. with “merciless revenge” for ignoring its warnings over annual military drills with South Korea that began on Monday.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, gained 0.46% to 93.43 by 6:55AM ET (10:55GMT), bouncing off Monday’s low of 92.92.
Elsewhere, sentiment for stocks was largely positive on a global level on Tuesday with European shares breaking a three-day losing streak.
Earlier, Asian equities ended mostly in positive territory, with benchmarks in Shanghai, Seoul and Sydney rising amid thin trading volumes.
Meanwhile, oil prices struggled to recover from the prior session\'s more than 2% drop as investors looked ahead to weekly data from the U.S. on stockpiles of crude and refined products
U.S. crude futures inched up 0.04% to $47.55 by 6:56AM ET (10:56GMT), while Brent oil edged forward 0.06% to $51.69.
Industry group the American Petroleum Institute is due to release its weekly report on U.S. crude inventories at 4:30PM ET (20:30GMT).
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