US pre-open: Stocks seen muted ahead of PMIs, Jackson Hole
US stocks looked set for a muted open on Tuesday ahead of some key data releases, and as investors continued to eye the Jackson Hole symposium.
At 1040 BST, Dow Jones Industrial Average, S&P 500 and Nasdaq futures were all up just 0.1%.
Lukman Otunuga, senior research analyst at FXTM, said: "There is a strong sense of unease across financial markets as investors grapple with inflation concerns, jitters over tightening US monetary policy, and recession fears. This will be a big week for markets thanks to the annual Jackson Hole Economic Symposium where central bankers and financial heavyweights congregate to discuss major economic issues.
"Investors hope to use this major event to gain fresh insight into the Fed’s thoughts on inflation, economic growth, and monetary policy. All eyes will be on Federal Reserve Chair Jerome Powell’s speech on Friday which is the main risk event and potential market shaker. What Powell reveals during the speech or chooses to hold back could set the tone for global markets in the weeks ahead."
On the macro front, the S&P Global manufacturing and services PMIs for August are due at 1445 BST, while new home sales figures for July are due at 1500 BST.
In corporate news, Swiss eye care company Alcon agreed to buy US firm Aerie Pharmaceuticals in a deal valued at $753m.