Traders Stay Guarded Ahead of Week’s Key Data
The major U.S. index futures are pointing to a lower opening on Tuesday, with sentiment still fluid despite most commodities stalling the selling spree. Oil has stemmed its losses and is currently up moderately and gold is seeing a small bounce upward from a 5-1/2 year low. The dollar strength is fading. Notwithstanding a strong rally by Chinese stocks, sentiment in Asia was broadly negative. The mood across the Atlantic isn’t anything to boast despite the release of some positive domestic earnings. The back-end loaded nature of the week has made wary of how the economic data for the rest of the week will pan out.