S&P 500: Futures show no firm signs of stabilization, the dollar reappears

• European markets and Wall Street futures without clear direction.
• Oil continues to advance while metals fall.
• Expectation for the start of Jackson Hole on Thursday.
• The dollar strengthens again after Tuesday’s correction.

Wall Street futures are moving without a clear direction, with a weak economic outlook and more monetary tightening ahead. In Europe, the main squares do not show clarity either. The dollar strengthens again, metals lose strength and oil continues to rise.

Signs of slowdown but not for central banks

Economic data from PMI S&P Global pointed to a loss of momentum in growth in both Europe and the US. This, along with comments from various central bank officials favoring further interest rate hikes, continues to weigh on the mood. of the operators.

Equity markets are trading without clear direction, trying to stabilize after several days of declines. In Europe, the FTSE falls 0.34%while the DAX advanced 0.04% and the CAC 40 rose 0.09%. S&P 500 futures up 0.09%those of the Nasdaq 0.10% and those of the Dow Jones climb 0.02%.

July US Durable Goods Orders and Pending Home Sales data will be released on Wednesday. The focus is on what will be the jackson hole symposium, which will begin on Thursday and which will include the main central bankers. Jerome Powell will speak on Friday. Minneapolis Fed President Neel Kashkari stressed Tuesday that more monetary tightening is needed to strike a balance. The expectation about what Powell will say ranges from hawkish signals to giving arguments to smooth the pace of rallies.

Among the coins, the dollar They started to gain ground again. The yen and the Swiss franc remain firm in a context of risk aversion. Those of emerging markets are showing resistance and with mixed results, standing out on Wednesday the Mexican peso, which rose to its highest in almost a week against the dollar. EUR/SUD is back below parity and close to the recent low. USD/JPY remains below 137.00. DXY rises 0.33% and approaches 109.00.

The treasury bond yields they move without major changes in the zone of maximums in a month. The 10-year bond yields 3.05% and 30-year bond 3.26%. Metals move without clear direction. The Prayed it held below Tuesday’s highs, hovered above $1,750 at times, and then fell towards $1,740. Silver is around $19.00 with a negative intraday bias at the moment.

The prices of Petroleum they are rising again on Wednesday, for the third day in a row. The barrel of WTI hit three-week highs before paring gains. The complicated economic outlook was overshadowed by comments about possible production cuts by the Organization of the Petroleum Exporting Countries and allies (OPEC+). Norway became the largest supplier of natural gas to Europe, passing Russia.

The cryptocurrencies mostly operate at modest losses. The Bitcoin falls 0.30% and is located in the area of ​​$21,400 and ethereum down 0.40% at $1,640.

in the premarket, Bad, Bath & Beyond rises 24% after obtaining a loan to deal with liquidity problems. Nordstrom falls 12% after lowering year-end targets. Among the companies that will present results on Wednesday are NVIDIA, Salesforce, National Bank of Canada, Snowflake, Sonoma and Victoria’s Secret.

Technical levels