Markets Find Difficulty Breaking New Grounds Amid Lackluster Risk Sentiment
The major U.S. index futures are pointing to a slightly higher opening on Monday, with sentiment reflecting nervousness as the markets trade at overbought levels. Commodities are weaker but the dollar is also weaker, giving up some of last week's gains. The deal news in the tech space concerning Yahoo and Verizon, although has been discounted by the markets, might create some flutter in the markets. In the absence of any major catalysts, the markets could find difficulty breaking new grounds.
7/26/2016 6:33:44 AM Trading in the U.S. index futures suggests that Wall Street stocks may open Tuesday's session on a subdued note, as the Bank of Japan and the Federal Reserve are set to announce monetary policy decisions this week. Indications that cast a doubt of some liberal stimulus announcement from Bank of Japan sent the yen soaring and stocks in Japan tumbling. With mortgage approvals data from the U.K reflecting the Brexit risks, the mood in Europe is also somber. The domestic markets may also focus on some key earnings to be released ahead of the open from companies such as Verizon (VZ), DuPont (DD), United Technologies (UTX), Caterpillar (CAT) and McDonald's (MCD) and economic data on consumer confidence and new home sales.