US pre-open: Futures lower as traders continue to await news from Jackson Hole.


Wall Street futures were trading slightly lower ahead of the bell on Tuesday as market participants continued to await a key speech from Federal Reserve chairman Jerome Powell later in the week.

New York Stock Exchange

Source: Sharecast

As of 1230 BST, Dow Jones futures were down 0.10%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.08% and 0.04% softer, respectively.

The Dow closed 34.30 points lower on Monday, giving back almost all of the previous session's modest gains.

Traders were looking out for hints as to just what Federal Reserve chairman Jerome Powell will look to do at the Fed's remaining policy meetings this year, with central bank heads from across the world set to converge upon Jackson Hole, Wyoming this week for the Fed's annual economic symposium. Fed funds futures have currently priced in an 83% chance of a 25 basis point rate cut at the Fed's September meeting.

On the macro front, July building permits and housing starts figures will be released at 1330 BST, while Federal Reserve banker Michelle Bowman will deliver a speech at 1910 BST.

In the corporate space, DIY retailer Home Depot traded lower in pre-market action after reporting weaker-than-expected second-quarter earnings. However, Home Depot opted to maintain its full-year guidance.

Reporting by Iain Gilbert at Sharecast.com

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