A look at Wednesday morning’s market action
Wall Street futures edged up early Wednesday with traders awaiting more earnings, including results later in the day from Netflix and Tesla. Major European markets were positive after new figures suggested easing inflationary pressures in Britain.In the early premarket period, Dow, S&P and Nasdaq futures all steadied above break even. All three saw a winning day on Tuesday, managing their best closing levels since April 2022.
The Globe’s Brent Jang reports that, even before picket lines went back up on Tuesday, business groups warned that it could take until late September or even longer to fully clear theElsewhere, unionized workers at 27 Metro grocery stores in the Greater Toronto Area reached a deal with the company shortly after midnight, averting a strike at those locations.Britain’s FTSE 100 spiked 1.43 per cent after new figures showed that the annual rate of inflation eased to eased to 7.
“Crude prices are steadying here on expectations that the oil market will remain tight as Russian shipments drop and as China prepares to provide more support to households,” OANDA senior analyst Ed Moya said. Early Tuesday, China’s top economic planner said the country would roll out policies to “restore and expand” consumption in the world’s second-largest economy, which could boost oil demand, according to a Reuters report.
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