17 Dec 2014
US Stocks likely to open higher
FXStreet (Mumbai) - The action in the US index futures indicates that Wall Street is likely to see a positive opening after posting a three-day slide despite caution ahead of the Federal Reserve meet.
At the time of writing, the DJIA futures are up 0.40%, while the S&P 500 futures are up 0.53%. The NASDAQ futures advanced 0.44%, along with a 0.47% gain in the Russell futures. Accordingly, the VIX futures declined 2.73%.
On the economic front, the US CPI in November came-in softer than expected. Year-on-year the CPI in November increased 1.3%, against the median estimate of 1.4% and down from the October’s rise of 1.7%. Month-on-month prices fell 0.3%, beating the estimated decline of 0.1%. Meanwhile, core inflation also slowed down to 1.7% in November, from 1.8% in October. US Current account deficit in Q3 widened to USD 100.3 billion, beating the median estimate of USD 97.5 billion, and higher from the upwardly revised previous quarter deficit of USD 98.4 billion.
The Federal Reserve is scheduled to release the post meeting policy statement along with its updated economic forecasts, which will be followed by Fed Chair Janet Yellen press conference.
At the time of writing, the DJIA futures are up 0.40%, while the S&P 500 futures are up 0.53%. The NASDAQ futures advanced 0.44%, along with a 0.47% gain in the Russell futures. Accordingly, the VIX futures declined 2.73%.
On the economic front, the US CPI in November came-in softer than expected. Year-on-year the CPI in November increased 1.3%, against the median estimate of 1.4% and down from the October’s rise of 1.7%. Month-on-month prices fell 0.3%, beating the estimated decline of 0.1%. Meanwhile, core inflation also slowed down to 1.7% in November, from 1.8% in October. US Current account deficit in Q3 widened to USD 100.3 billion, beating the median estimate of USD 97.5 billion, and higher from the upwardly revised previous quarter deficit of USD 98.4 billion.
The Federal Reserve is scheduled to release the post meeting policy statement along with its updated economic forecasts, which will be followed by Fed Chair Janet Yellen press conference.