Investors are hoping to reverse a three-day losing streak on Wall Street as U.S. equity futures rise on Wednesday. This comes ahead of key inflation data due later this week.
Stocks closed slightly lower on Tuesday, extending a losing streak. This decline was caused by a stronger-than-expected reading for durable-goods orders and a steady consumer confidence reading. These factors pushed Treasury yields higher, and low trading volume discouraged investors from taking risks.
On the other hand, a successful Treasury auction helped to prevent yields from rising further. This is despite most traders believing the Federal Reserve will raise interest rates three times in 2024, with the first increase coming in June.
The dollar edged lower on Wednesday, while Treasury bond yields remained steady. The Bureau of Economic Analysis will release a critical inflation report on Friday, even though markets will be closed for Good Friday.
Oil prices fell further in pre-market trading after data showed a larger-than-expected increase in U.S. crude stockpiles.
Futures contracts for the S&P 500, Dow Jones Industrial Average, and Nasdaq are all indicating gains at the market open.
Disclaimer: The information contained in this article is for informational purposes only and should not be considered financial advice. Past performance is not necessarily indicative of future results. Investing involves risk, including the potential loss of principal. Always consult with a qualified financial professional before making any investment decisions.
