Dow futures point to fourth straight advance on Wall Street
U.S. stock-index futures pointed to gains early Wednesday as investors pored over corporate earnings results and awaited a reading of the private-sector labor market that could serve as a precursor to the official July jobs data on Friday.
On Tuesday, the Dow DJIA, +0.61% picked up 164.07 points, or 0.6%, at 26,828.47; the S&P 500 index SPX, +0.36% rose 11.90 points, or 0.4%, to 3,306.51, while the Nasdaq Composite Index COMP, +0.35% finished 38.37 points, or 0.4%, to close at 10,941.17, marking its 30th record close of 2020. U.S. Treasury Secretary Steven Mnuchin told reporters on Capitol Hill of the new timeline late Tuesday. “We are pleased to report that although we still have a lot of open issues—I just want to be very clear, we’re not at the point of being close to a deal—but we did try to agree to set a timeline that we’re going to try to reach an overall agreement, if we can get one, by the end of this week, so that the legislation could be then passed next week,” he said.
In other economic news, Wall Street will watch for a report on the U.S. trade deficit at 8:30 a.m. for June, a quarterly Treasury refunding at 9 a.m., which will help fixed-income investors determine the coming Treasury auctions.
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