U.S. stock index futures indicated record highs yet again for Wall Street as gains from Boeing helped offset disappointing quarterly numbers from retailers such as Home Depot and Kohl’s.
Around 7:30 a.m. ET, Dow Jones Industrial Average futures were up 45 points, indicating a gain of more than 46 points at the open. S&P 500 and Nasdaq 100 futures also traded higher and pointed to all-time highs.
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Boeing shares rose more than 1% in the premarket after wrangling up 50 orders for the embattled 737 Max jet at the Dubai Air Show. One order for 20 planes came from an undisclosed buyer while a Kazakhstan-based airline put in another one for 30 planes.
Those gains diverted some attention away from Home Depot and Kohl’s, which dropped on the back of weaker-than-expected same-store sales data for the previous quarter. Home Depot pulled back more than 4% in the premarket while Kohl’s tanked 11.3%.
The major averages eked out record closing highs on Monday even as investors dealt with mixed signals on the U.S.-China trade front. CNBC, citing a government source, reported that China is pessimistic about a trade deal with the U.S. This is reportedly due to different views on the cancellation of tariffs.
Former White House chief economic advisor Gary Cohn told CNBC Monday that he believes President Donald Trump will go ahead with the Dec. 15 tariffs if the U.S. and China haven’t agreed to a trade deal by then.
Meanwhile, Trump spoke with Federal Reserve Chairman Jerome Powell on Monday. Trump tweeted that he “protested” the Fed’s rates being “too high relative to the interest rates of other competitor countries.”
On the data front, a reading on housing starts is expected out at 8:30 a.m. ET.
The House Permanent Select Committee on Intelligence is holding its latest open hearing as part of the Trump impeachment inquiry, starting at 9 a.m. ET.
Source: cnbc.com | Original Link