Tuesday December 27th

27-12-2016

Futures point to a mixed open on Wall Street, as investors eye Dow's 20,000 mark, data

U.S. stock index futures pointed to a mixed open on Tuesday, with investors set to delve through fresh economic data, while keeping a close eye on the Dow Jones industrial averages' climb towards the 20,000 mark. On the data front, Tuesday will see the release of the S&P Case-Shiller HPI, due out at 9.00 a.m. ET and consumer confidence, expected at 10.00 a.m. ET. In addition, the Richmond Fed survey is to be released around 10.00 a.m. ET, followed by the Dallas Fed survey, at 10.30 a.m. ET. In oil markets, WTI and Brent crude futures posted small gains early on Tuesday, in light of the pre-New Year holiday trading, hovering around $53.30 per barrel and $55.30 respectively. After a long holiday weekend, European stocks eeked out slight gains on Tuesday morning. Meanwhile Asia-Pacific indexes closed mostly mixed overnight, despite positive China data. The Shanghai composite finished down 0.24 percent, or 7.57 points, at 3,115, while the Shenzhen composite closed nearly flat, up 0.069 percent, or 1.36 points, at 1,979.73. The Nikkei 225 index closed nearly flat, up 0.03 percent, or 6.42 points, at 19,403.06, after economic data showed the Japanese economy still had some way to go before meeting the Bank of Japan's 2 percent inflation target. Prior to the Christmas break, U.S. indexes ended their previous session flat, after the Dow failed to reach the 20,000 mark. U.S. markets were closed on Monday in observance of the Christmas holiday. No earnings are expected to be released on Tuesday; however four bond auctions are set to take place by the U.S. Treasury. Gold prices rose in Asian trade on Tuesday on light buying out of China, but trading was thin after the long Christmas weekend, even as a firm dollar capped the gains. Spot gold was up 0.67 percent at $1,140.85 an ounce, after earlier edging down to $1,131.35. U.S. gold futures rose 0.8 percent to $1,142.70 per ounce.