Skip to main content

It is probably best to forget any US data releases over the next 2 days- Dow Jones set to open shortly

There are some US economic releases due out this afternoon. At 3pm GMT we get the latest Factory and Durable goods orders for September and then tomorrow we have the ISM service sector index. Now under normal circumstances that ISM data could have a significant impact and of course it may have a passing one tomorrow, but overall it will not matter much. That is because the far bigger event is due and of course that is the US election. So, the markets will likely not pay much attention to any of it, or at best only for a fleeting moment. The US clocks have changed last weekend and so the stock markets will reopen today at the usual time of 2.30pm GMT. Ahead of that opening not much has changed in terms of the US equity futures, but they are all a little lower now. The price action today and tomorrow is likely to be choppy and election headline driven for the most part. The Dow Jones closed on Friday at 42,052 after setting a low last week at 41,704. The high seen on Friday was set at 42,326, so as you can see it might have closed 288 points higher, but it could have been so much better. The index is right now priced to reopen at around 42,030
 

Ready to Get Started?

Start here. Join over 3M Libertex users around the world!