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US index futures rise on oil

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    US stock futures are indicating Wall Street is set to have a good time on the last trading day of the week on account of higher oil prices.

    At the time of writing, Dow futures were up 97 points or 0.56%. S&P futures were up 0.64% or 13 points, while Nasdaq futures were up 0.67% or 30 points.

    Both oil benchmarks are trading at least 3% higher on the day and that is likely to push energy shares higher across the board.

    Bullish momentum may also find support from the calm in FX markets – JPY. Furthermore, economists are predicting a rise in March’s retail sales and consumer price index due next week, which could further keep the bid tone intact.
    For more information, read our latest forex news.

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