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Wall Street eyes bounce back ahead of services activity data

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NEW YORK, Aug 3 — US stock indexes were set for higher open today after two days of declines as focus shifted to services activity data due later in the session for more clues on...

NEW YORK, Aug 3 — US stock indexes were set for higher open today after two days of declines as focus shifted to services activity data due later in the session for more clues on the health of the economy, while PayPal soared on raising its forecast.

“That tells us that the Fed is working, not too hard take us into a deeper recession.” The Federal Reserve has raised rates by 2.25 percentage points this year and has vowed to be data-driven in its approach toward future hikes. Pelosi left Taiwan today after pledging solidarity and hailing its democracy, leaving a trail of Chinese anger over her brief visit.

At 8:37 a.m. ET, Dow e-minis were up 168 points, or 0.52 per cent, S&P 500 e-minis were up 23.75 points, or 0.58 per cent, and Nasdaq 100 e-minis were up 78.5 points, or 0.61 per cent.

 

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