It’s looking to be a mixed start to the day’s trade on Wall Street as markets digest that shortfall in Chinese manufacturing PMI which was released overnight. Earnings news yesterday was something of a mixed bag with Spotify (NYSE:SPOT) beating analyst expectations, but slowing ad sales saw Google’s parent Alphabet (NASDAQ:GOOGL) struggling in after-hours trade.
Corporate results will continue apace today with General Electric (NYSE:GE) and McDonald’s (NYSE:MCD) amongst highlights before the opening bell, whilst Mondelez (NASDAQ:MDLZ) and Apple (NASDAQ:AAPL) are both slated to report after the close.
Economic data will be under scrutiny too, after yesterday’s shortfall in US inflation. Numbers like this give the Fed a little more headroom when it comes to monetary policy and any suggestion over the timing of a rate cut in tomorrow’s FOMC statement has the potential to give equities yet more support. That said, any further strengthening in consumer confidence in today’s data could raise some concern that any softening of price pressures will yet prove to be short lived.
Ahead of the open we’re calling the Dow up 11 at 26565 and the S&P 500 down 4 at 2939.