International
Fed, Persian Gulf Outlooks Cap Wall Street Pre-Bell; Asia, Europe Up
Wall Street futures pointed sideways pre-bell Monday, on media reports that Tehran has floated a proposal to reopen the Strait of Hormuz, and as traders await the Federal Reserve's next interest-rate decision, slated for 2pm on Wednesday.In the futures, the S&P 500 was steady, the Nasdaq inclined 0.2% and the Dow Jones was off 0.1%.On the earnings scene later this week, five of the "Magnificent Seven" enterprises, those being Alphabet (GOOGL), Microsoft (MSFT), Amazon.com (AMZN), Meta Platforms (META), and Apple (AAPL), are slated to report.Looking forward on the economic calendar, the Q1 gross domestic product (GDP) first estimate, and the March personal consumption expenditure-core, or PCE-core, inflation index, will be released Thursday pre-bell.Asian exchanges traded mostly higher overnight, with Tokyo's Nikkei 225 index gaining 1.4% to top the 60,000-milestone for the first time.European bourses tracked moderately north midday on the continent.Qualcomm (QCOM) traded up 12% pre-bell on media and brokerage reports that semiconductor-maker may be working with Microsoft's (MSFT) OpenAI to develop smartphone processors.On the economic calendar is the Dallas Federal Reserve manufacturing survey for April, at 10:30 am ET.In premarket action, Bitcoin traded at $77,800, West Texas Intermediate crude oil traded up 1.6% at $95.89, and 10-year US Treasuries offered 4.31%. Spot gold commanded $4,706 an ounce.
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