Opening Bell: US Futures Waver Despite Global Uptrend; Oil, Dollar Advance – Investing.com

Opening Bell: US Futures Waver Despite Global Uptrend; Oil, Dollar Advance – Investing.com

Asian, European stocks climb on economic optimism

Dollar at two-week high

Oil climbs on OPEC+ bullish forecast

Key Events

Futures on the , , and are trading in holding pattern ahead of the US market open on Wednesday, amid persistent conflict between recovery optimism and inflation pessimism.

The reflation trade held its own, as contracts on the Russell 2000 were slightly up, while NASDAQ futures were 0.14% in negative territory as of the time of writing.

Global Financial Affairs

Rising commodities and oil prices led the Index up almost 0.4% at the open, but the pan-European gauge has given up on those gains and is now fluctuating between breaking even and a slight gain.

If the index remains at the same level until closing, it will have created a shooting star, confirming the resistance of Tuesday's long upper shadow. A retreat will push the benchmark back into a broadening channel, potentially, a top.

Stocks in Asia neared a three-month high. Market narrative says that traders are cheering the expanding US . This is ironic as US stocks fell on this positive economic data, fearing it will allow the Federal Reserve to reduce its so far unquestionable economic support.

MSCI's broadest