U.S. Stock Index Futures Drop before the Announcement of Economic Figures

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The United States Stock index futures slumped before the announcement of economic figures and data, which also included a consumer spending report, even as the investors took note of their earnings through some of the leading companies. While, oil went up, after dropping by around ten percent within a week, investors were concerned regarding oversupply as it pushed the prices down. In fact, Dallas Federal Reserve’s president Robert Kalpan reiterated that global economic developments and risks like Britain’s exit from the European Union could impact the U.S and hence it is the ideal time for the Fed to hike the rate of interest.

On Monday, Wall Street ended the day lower, as the dropped oil pricing pulled the energy related stocks down. On the other hand, European stocks dropped to 2 week lower level, whereas Japan’s Yen went up in comparison to the US dollar. Even the government related bonds were sold after the cabinet in Japan gave approval to a stimulus pack for reviving the economy. It must be noted that the consumer spending report may reveal that U.S. consumption went up by 0.3% in the month of June in comparison to 0.4% rise recorded in the month of May.

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