Investors are turning their attention to Friday’s Producer Price Index (PPI) report, which could shape the direction of U.S. markets as they open for the session. The morning’s futures activity suggests a cautious but optimistic mood among traders, with the S&P 500 and Dow futures rising slightly despite the Nasdaq 100 futures dipping. As of 7:55 a.m. ET, the Dow futures were up 17 points, while the S&P 500 added 2.25 points.
Tech sector under pressure
The Nasdaq, which had already taken a hit in the previous session, dropped sharply by 2.0 percent to 18,283.41, making it the standout performer in the recent downturn. The broader S&P 500 also saw a decline, falling 0.9 percent to 5,584.54, while the Dow managed a modest gain of 0.1 percent.
Asia’s mixed performance
Over in Asia, markets offered a varied picture. Australia’s S&P/ASX 200 reached a record high before settling at 7,959.30. Japan, however, struggled, with the Nikkei falling 2.45 percent and the Topix index declining 1.18 percent.
Data releases to come
The PPI-Final Demand for June will be released at 8:30 a.m. ET, with economists expecting a 0.1 percent rise after a 0.2 percent drop in May. Later, the Consumer Sentiment data for July will be out, with an expected reading of 68.5 compared to 68.2 the previous month. Earnings from major companies will also be watched closely, as investors look for clues about the strength of the broader economy.