WASHINGTON (dpa-AFX) - Futures point to a somewhat flat start on Wall Street Tuesday morning. Data on manufacturing and services sector activity in the U.S. in the month of August, due after the opening bell, is likely to provide some direction to the market.
The Dow futures are up 0.14 percent, while the S&P futures and the Nasdaq futures are up 0.01 percent and 0.02%, respectively.
The Commerce Department is scheduled to release the Fed's preferred readings on consumer price inflation, which could impact the outlook for rates.
Investors will also by eying speeches from several Fed officials, including Fed Chair Jerome Powell, this week.
Stocks drifted lower in early trades on Monday due to profit taking, but started moving up as the day progressed, amid optimism about further interst rate cuts by the Federal Reserve. The major averages all reached new record closing highs.
The Nasdaq advanced 157.50 points or 0.7 percent to 22,788.98, the S&P 500 climbed 29.39 points or 0.4 percent to 6,693.75 and the Dow inched up 66.27 points or 0.1 percent to 46,381.54.
In overseas trading, Asian stocks closed mixed on Tuesday. The Japanese markets were closed today for a public holiday, while Hong Kong is preparing for Tyhpoon Ragasa, which is expected to pass the city by Wednesday afternoon.
The major European markets are up in positive territory with notable gains with investors reacting to fairly encouraging regional manufacturing and services sector activity data.
In commodities trading, West Texas Intermediate crude oil futures are up $0.31 or 0.5 percent at $62.59 a barrel. Gold futures are gaining $42.50 or 1.13% at $3,817.6 an ounce.
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