After back-to-back losses, all major indices were in the green ahead of housing data and consumer confidence. Nasdaq futures were up 114 points, or 0.92%, while S&P and Dow futures were up 0.67% and 0.55%, respectively…
Today is a busy day for economic data as we get a look at housing data, consumer confidence, and job openings…
- 9:00 AM Case-Shiller Home Price Index 20-city composite is expected to show appreciation falling to 19.4%
- 10:00 AM Consumer Confidence is expected to rise to 97.5 in August.
- 10:00 AM JOLTS are expected to fall to 10.5M
The 10-year is down 3 basis points ahead of the open to 3.07% and oil is down 3% to $94 a barrel.
Markets finished down on Monday after a huge sell-off on Friday that saw all major indices falling over 3.0% after a speech from Federal Reserve Chairman Jerome Powell at Jackson Hole that doubled down on the idea of more rate hikes in the months ahead.
It is jobs week so after today’s job openings report the ADP report returns on Wednesday and then on Friday the nonfarm payroll will answer the question if there is any softening in the labor market as the economy retracted for two quarters in a row and consumer continue to worry about rising prices.