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What we need to know before US stock market opening
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Loading...U.S. stock index futures rose on Tuesday as bank shares got a lift from higher interest rates.
Shares of Bank of America rose 0.7 percent before the bell, while J.P. Morgan Chase and Citigroup both gained about half a percent.
Bank stocks gained as the 10-year Treasury note yield climbed to 3.11 percent, near its highest level of the year. The rise in yields comes as the Federal Reserve begins its two-day monetary policy gathering today, with analysts expecting the U.S. Federal Reserve to announce a quarter-point rate hike when it concludes its meeting tomorrow.
The event will be watched closely to see if the central bank provides any signals as to where monetary policy will be heading over the coming months and into next year. Most respondents to the latest CNBC Fed Survey expect the central bank to raise rates two more times before year-end.
Tuesday's gains come after stocks closed lowerin the previous session amid reports that Deputy Attorney General Rod Rosenstein was about to resign or be dismissed. The White House later issued a statement, however, saying that Rosenstein and President Donald Trump would meet Thursday amid conflicting reports.
Equities were also pressured by the cancellation of trade talks between the U.S. and China as tensions between the largest world economies continue to simmer.
China's Vice Commerce Minister Wang Shouwen said Tuesday that it was tough to proceed with trade negotiations at present and that it would be dependent on the "will" of the United States as to when talks would resume.
Source: CNBC
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