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US Pre Market Open: Mixed start for Wall Street forecast as Saudi question lingers

Market Analysis /
17 Oct 2018

After a quiet overnight session, Wall Street futures are currently pointing towards a mixed start to Wednesday’s trade. Early in the European session, gains had been on the table but these are already being eroded after a faltering start to trade across the continent. Questions continue to linger over how the stand-off between the US and Saudi Arabia over the missing Washington Post journalist can be resolved, and with Donald Trump’s apparent early defence of Riyadh in an interview last night surfacing, this could add to tensions in the Middle East.

Earnings season continues, although today’s agenda is lacking some of the higher profile names we’ve seen in recent days. In terms of economic data, housing starts and building permits are both due for release before the opening bell and whilst a degree of contraction is expected here, anything too marked could raise questions over whether fatigue is creeping into the US economy.

Ahead of the open, we’re calling the DOW down 48 at 25750 and the S&P up 3 at 2813.

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