US STOCKS-Futures edge higher after Monday's rout on Wall Street
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* Futures up: Dow 0.34%, S&P 0.54%, Nasdaq 0.87%
The benchmark S&P 500 on Monday closed 20% below its
all-time closing high hit on
The selling pressure appeared to ease in premarket trading. Market heavyweights such as Apple Inc (AAPL), Amazon.com Inc , Microsoft Corp (MSFT) and Tesla rose between 0.7% and 1.6%.
Oracle Corp (ORCL) was another gainer after posting upbeat quarterly results on demand for its cloud products. Its shares jumped 13.2%.
"There may be opportunity for a bit of a breather from the
aggressive expectations baked in, and you can see that in terms
of how the markets are wandering today," said
"Markets are undoubtedly going to be choppy."
The mood remained fragile ahead of the Federal Reserve's policy decision on Wednesday. Investors expect the U.S. central bank to raise interest rates by a big 75 basis points after last week's inflation data came in much hotter than anticipated.
At
The Labor Department will release producer price index (PPI)
data at
Among other stocks, medical equipment maker ResMed Inc (RMD)
rose 1% after announcing a
Continental Resources Inc (CLR) jumped 7.3% after the
shale producer received an all-cash buyout proposal from its
founder
United Airlines Holdings Inc (UAL) rose 0.7% after saying
searches for international travel increased after