Fed Outlook Caps Wall Street Pre-Bell; Asia, Europe Up

MT Newswires Live
Aug 28

Wall Street futures pointed modestly lower pre-bell Friday as traders paused ahead of Federal Reserve Chairman Kevin Warsh's 10 am ET presentation, scheduled at the central bank's annual symposium in Wyoming.

In the futures, the S&P 500 fell 0.1%, the Nasdaq declined 0.3%, and the Dow Jones was steady.

West Texas Intermediate crude oil traded down 0.4% to $83.24.

Asian exchanges traded unevenly higher overnight, while European bourses tracked moderately north at midday on the continent.

PayPal (PYPL) traded down 14.7% pre-bell after media reports that a takeover bid for the digital payment platform from Advent and Stripe had fizzled.

On the economic calendar is the Chicago PMI for August at 9:45, followed by the University of Michigan consumer sentiment report for August at 10 am.

The weekly Baker Hughes domestic oil-and-gas rig count posts at 1 pm.

In pre-market action, Bitcoin traded at $79,346, and 10-year US Treasuries offered 4.69%. Spot gold commanded $4,605 an ounce.

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