Seeking Alpha

Stock futures higher ahead of Fed minutes

  • Stock futures edge higher, building on gains from the previous session; S&P +0.3%, Dow +0.4%, Nasdaq +0.5%.
  • Asian markets finished mostly higher with the exception of Japan's Nikkei (-2.1%), which was weighed by a strong yen; European markets are broadly higher, with Great Britain's FTSE (+1%) in the lead.
  • It could be that yesterday's gains shouldn’t be read as a sign that concerns about stretchy valuations in the tech sector have eased; instead, they may merely point to bargain hunters buying the dip.
  • Alcoa +4% premarket after unofficially kicking off Q1 earnings season with a better than expected profit.
  • Treasurys have retreated steadily overnight, pushing the benchmark 10-year yield higher by nearly 3 bps to 2.71%.
  • Still ahead: wholesale inventories, EIA petroleum inventories, FOMC minutes (2:00 PM ET).
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