Stock futures edged higher today, Monday, pointing toward a flat-to-modest rise at the opening after concerns about the credit market sent the Dow Jones industrials down more than 2 percent last Friday. Ahead of Monday’s opening, Dow futures expiring in September rose 19.00, or 0.14 percent, to 13,285.00. Standard & Poor’s 500 futures rose 4.50, or 0.31 percent, to 1,447.50. Nasdaq 100 futures gained 6.00, or 0.31 percent, to 1,945.50.
However, investors were expected to be cautious ahead of the Federal Reserve’s meeting on interest rates scheduled for Tuesday. Policy makers are widely expected to hold the benchmark rate steady at 5.25 percent; as usual, the greater concern is with the Fed’s economic assessment statement.
Even if Monday’s close is in the positive territory, it’s still too early to jump into the boat as the stocks market especially the Wall Street had on zig-zag pattern trend even on intraday’s trading. In such volatile market, the best method is still wait and see sitting on the fence. The strength of Wall Street close will nevertheless set the tune for the regional equity markets Tuesday including Malaysia Stock Exchange after Monday’s biggest plunge in 5 months.
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August 6th, 2007 by financetwitter
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