Wall Street eyes data for rate hike clues

U.S. stocks were expected to open flat to a little lower on Tuesday as investors focused on data that could offer clues on the timing of a possible rise in U.S. interest rates.

Renewed talk of a rate rise this year following Friday’s stronger-than-expected non-farm payrolls report has weighed on shares, sending the Dow Jones Industrial Average down about 80 points on Monday.

The April Job Openings and Labor Turnover (JOLT) survey is due out at 10 a.m. ET. The survey, which is closely followed by Federal Reserve chief Janet Yellen, includes details on the state of the jobs market not highlighted by the monthly payrolls data, analysts say.

U.S. stock futures turned narrowly lower in London trade.


Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.