Tuersday November 17th

17-11-2015

Dow futures up 100 points; inflation and earnings eyed

U.S. stock index futures pointed to a higher open on Tuesday, as investors wait for inflation data and some key earnings, after a strong close on Monday boosted by a sharp jump in oil prices. Oil could keep a tight grip on the stock market Tuesday, as traders scrutinise inflation data for an indication on when the U.S. Federal Reserve may hike interest rates. The consumer price index is reported at 8:30 a.m. ET Tuesday, and industrial production for October is at 9:15 a.m. The NAHB homebuilders sentiment survey is released at 10 a.m. and Treasury International Capital flow data are disclosed at 4 p.m. CPI is expected to rise 0.2 percent after a decline in September. There are also some major retail earnings, including Wal-Mart, Home Depot, TJX and Dick's Sporting Goods, all due before the bell. Fed speakers will also be in focus Tuesday, with Fed Governor Jerome Powell at 12:35 p.m. at the Clearing House Annual Conference. Fed Gov. Daniel Tarullo speaks at 3:30 p.m. on the financial system and shadow banking. Meanwhile former Fed Chairman Ben Bernanke speaks at 4:10 p.m. at Brookings on the financial system, post-crisis. In Europe,equities powered higher Tuesday as markets got a confidence boost from Wall Street. The pan-European Stoxx 600 index was trading almost 2 percent higher Tuesday, all sectors were in positive territory. Stocks and bonds Monday confounded strategists who had expected a flight-to-quality trade, after coordinated terrorist attacks in Paris left at least 129 dead and dozens injured. Equities were given a lift Monday by a sharp jump in oil prices, which was supported by geopolitical concerns following weekend terror attacks in Paris. The major U.S. averages also closed more than 1 percent higher, recovering some of their sharp declines last week. Asian shares advanced on Tuesday, with energy and airline counters leading the rebound, as investors took heart from the rally on Wall Street. Nikkei leaps 1.2%. Japan's Nikkei 225 recouped all of Monday's losses, with sentiment bolstered by the inspiring handover from Wall Street and a weaker yen. Brent oil prices made gains on Tuesday, albeit at a more modest pace than the previous day, as the risk premium stemming from the Paris attacks faded, and the focus returned to the global oversupply in crude and petroleum products. Brent crude futures were up 7 cents at $44.63 a barrel by 0853 GMT, having closed up 2 percent on Monday. Front-month U.S. crude futures were down 10 cents at $41.64 a barrel. Gold prices slipped on Tuesday, heading towards near six-year lows as the dollar rose and stocks rebounded from losses associated with Friday's attacks in Paris. Gold briefly rose on Monday to its highest in a week at $1,097.90 an ounce after the attacks prompted a flight to safety among investors, but it failed to maintain those gains. Spot gold was down 0.18 percent at $1,080.46 an ounce, while U.S. gold futures for December delivery were down $3.80 an ounce at $1,079.80.