There is a consensus view that the Federal Reserve will announce a tapering of its $120 billion a month in its asset-purchase program at its November policy meeting. Treasury yields make the dollar more attractive to investors. dollar index advanced to a new one-year high, as firming U.S. The longer-term fundamental and technical aspects remain supportive for stock index futures. According to Refinitiv IBES forecasts, profit growth is estimated to come in at 30% in the third quarter, which is down from 96.3% growth in the previous three-month period. Third quarter earnings season starts tomorrow starting with the big banks. On the bullish side is the historically low fed funds rate of zero to 25 basis points. The bears on this market point to prospects of central banks pulling back stimulus, recent gains in crude oil prices, concerns about the pace of the global economic recovery and the ongoing debates over the debt limit in Washington. The Labor Department’s JOLTS report tracks monthly changes in job openings and offers rates on hiring and quits. The 9:00 central time August Job Openings and Labor Turnover Survey (JOLTS) is anticipated to be 11.013 million. The National Federation of Independent Business small business optimism index for September declined to its lowest in six months, coming in at 99.1 when 99.5 was expected. stock index futures were lower in the overnight trade in response to weaker stock markets in Asia, but are now higher on the day.
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