U.S. stocks are set to an opening higher on Tuesday after Tuesday’s volatile day marked by concerns about the collapse of Silicon Valley Bank, as investors await the release of significant inflation data.
At 13:00 (CET), the contract of Dow futures up 102 points or 0.32%, the S&P 500 futures A rise of 13 points or 0.34% and the Nasdaq 100 futures They advanced 130 points or 0.26%.
SVB’s fall has hit banks, and particularly regional ones, hard, even though regulators have provided the sector with emergency liquidity and supportive guarantees. The impact has subsequently been extended to other parts of the market, although the NASDAQ, loaded with technology, closed in the green on Monday, as traders bet on a possible slowdown in the Federal Reserve’s interest rate hikes.
The focus is now on the inflation data of the U.S. Consumer Price Index, which are published on Tuesday, for more clues about the future direction of the Federal Reserve’s monetary policy. Fed funds futures prices show markets have abandoned bets on a 50 basis point hike by the Federal Reserve next week, with most traders now positioning themselves in favor of a 25 basis point hike.
The governor of the Federal Reserve, Michelle Bowman, will also appear today.
U.S. stock markets receive a mixed relay from Europe. The regional index Stoxx 600 It rises slightly, although it still faces downward pressure from bank stocks.
As for business news, U.S. regional banks will likely remain in the spotlight. The shares of these lenders stabilized before the market opened, but achieved only a weak rally after a warning about their credit rating.
On the other hand, oil markets are falling; Traders are watching for the upcoming inflation data and the consequences of the crisis due to the bankruptcy of SVB. The futures of U.S. oil fell 2.01% to $73.30 per barrel, while the Brent It leaves 1.61%, up to $ 79.47 per barrel.
In addition, the Gold Futures down 0.47% at $1,908.85 per ounce, while the pair EUR/USD It leaves 0.14% to the level of 1.0713.