After extending its losing streak yesterday, Dow Jones Industrial Average (DJIA) futures are signaling a higher start this morning,as Wall Street awaits President Trump's plans for tax reform. Meanwhile, traders are digesting the latest data on durable goods orders, which rose a bigger-than-expected 1.7% in August, and the Dow is pointed higher in spite of a negative earnings reaction for Nike. Fed speech week continues today, too, with Minneapolis Fed President Neel Kashkari, St. Louis Fed President James Bullard, and Boston Fed President Eric Rosengren expected to speak, following Fed Chair Janet Yellen's relatively hawkish comments yesterday.
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The volatility signal we haven't seen since 2007, per Schaeffer's Senior Quantitative Analyst Rocky White.Buy this Dow stock right now.It might be time to strike on this FAANG stock.Plus, 3 stocks moving after earnings.Asian markets finished on both sides of breakeven today, as traders digested yesterday's rate-hike comments from U.S. Fed Chair Janet Yellen and looked ahead to today's release of details surrounding Trump's tax plan. In Japan, a rush of stocks going ex-dividend overshadowed a cooling yen -- sending the Nikkei down 0.3%. South Korea's Kospi also closed lower, giving back 0.07%. Chinese stocks outperformed once again, though, with the Shanghai Composite adding 0.06% and Hong Kong's Hang Seng jumping 0.5%.
European stocks are higher at midday, as financial shares rally ahead of today's expected tax plan in the U.S. Traders are also reacting to a well-received rail operations merger between regional heavyweights Alstom and Siemens, with shares of the former climbing to a six-year high in intraday action. At last check, the German DAX was up 0.5%, the French CAC 40 was 0.2% higher, and London's FTSE 100 was flirting with a 0.4% lead -- the latter of which appears set to snap its two-day losing streak, as mining shares surge with copper prices.