US Pre Market Open: Wall Street Set for Subdued Open Ahead of Easter Break

Market Analysis /
18 Apr 2019

The final trading session before the long weekend break seems set to start on something of a downbeat note, despite mounting hopes of a US-China trade deal being finalised soon. This should be good news for US exporters and also serve to fuel risk appetite, weakening the greenback and driving dollar-denominated assets higher, but there are negative factors in play, too. They range from the prospect of tighter regulation in the US healthcare sector through to mounting concern that a recession is looming, as was telegraphed in the latest quarterly CFO survey from Duke University yesterday.

Some salvation could be seen in the latest round of earnings releases, with today’s highlights set to include American Express, Honeywell and Phillip Morris, all of which are set to report before the opening bell. All told however, hopes that major US indices were lining up for a test of fresh all-time highs appear to be on hold, at least for now. US Retail Sales for March are slated for release today and again have the potential to show an upturn in underlying sentiment, although this does little to placate monetary policy doves who are pushing for a rate cut, again something that ought to be positive for equities.

Ahead of the open, the market is calling the DOW 26348 and the S&P down 8 at 2892.

 

The information is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any trading strategy. Readers should seek their own advice. Reproduction or redistribution of this information is not permitted.

More on this topic

See More News

Open your account. Apply in minutes.

Start your trading journey with a trusted, regulated, multi-award winning broker.

Open Account Try a Free Demo