Wed. Oct 27th, 2021

© Reuters

By Peter Nurse – US stocks open almost unchanged on Tuesday, and investors expect more clues about Federal Reserve thinking as the earnings season continues.

At 7:15 AM ET (1115 GMT), the contract was down 20 points, or 0.1%, traded largely flat, while it was up 25 points, or 0.2%.

Fed officials have begun the debate over when and how they should reduce monthly asset purchases by $ 120 billion, pledging not to start “until they have made substantial progress” toward their maximum targets. employment and inflation of 2%.

However, what qualifies as “substantial” progress has not been defined, and therefore market participants are studying the speeches of policymakers to get clues as to when this reduction will begin.

Chicago Fed Chairman Charles Evans will speak later Tuesday and Kansas City Fed Chairman Esther George on Wednesday.

Elsewhere, the U.S. Senate is scheduled to vote Tuesday later to approve one of the most important in decades, providing an additional $ 1 billion stimulus to the market.

The second-quarter corporate earnings season is slowing, but there are still several high-profile companies posting results.

AMC Entertainment (NYSE 🙂 is likely to be in the spotlight after the troubled movie chain reported a lower-than-expected loss after closing on Monday, also announcing that it would begin accepting all U.S. locations this year.

Coinbase Global (NASDAQ 🙂 is expected to report quarterly earnings later Tuesday, as is streaming TV service Fubotv (NYSE 🙂 and security software maker McAfee (NASDAQ :).

The Wall Street Journal was also of interest Canadian Pacific (NYSE 🙂 is scheduled to make a new bid for Kansas City Southern (NYSE :), valuing each Kansas share of about $ 300, or about $ 27 billion, which would be a premium of 11.3% with respect to Monday’s closing price.

Workday (NASDAQ 🙂 will also be in the spotlight after announcing a link to Google (NASDAQ 🙂 that will allow its customers to run their apps in the Google Cloud.

Oil prices bounced on Tuesday after falling to a three-week low during the previous session before the latest US crude oil supply data was released.

By 7:15 AM ET, they had risen 1.9% to $ 67.73 a barrel, after falling 2.6% on Monday, while futures gained 1.5% to $ 70.09 the barrel, after falling 2.3% during the previous session.

Weekly oil inventories will be released later in the session, with a drop of nearly 900,000 barrels last week, weaker than expected by 2.9 million barrels.

Crude oil has recently been hit by concerns that the rapidly expanding delta variant will affect demand for oil in China, the world’s second-largest oil consumer.

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