A look at Wednesday morning’s market action
Wall Street futures edged up early Wednesday after the previous session’s losses with traders looking ahead to the release of minutes from the latest Federal Reserve meeting, due later in the day. Major European markets were mostly positive.Dow, S&P and Nasdaq futures were all above water in the early premarket period. On Tuesday, all three saw losses of more than 1 per cent and are negative at the halfway point for the month.
On Wall Street, retail stocks continue to be in focus with results due this morning from Target. On Tuesday, Home Depot postedas consumers continued to small-scale projects around the home. Walmart is scheduled to report on Thursday. Both benchmarks fell more than 1 per cent on Tuesday after disappointing data on China’s retail sales and industrial spending raised concerns about the health of that country’s economy. Figures released Wednesday, meanwhile, showed China’s new home prices fell for the first time this year in July.
More official U.S. government figures are due from the U.S. Energy Information Administration later Wednesday morning.
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