Stock futures trade tentatively after Nasdaq closes above 15,000

Wednesday's economic data will come in the form of the July durable goods report

U.S. equity futures were trading with small gains ahead of the Wednesday session on Wall Street, the day after the Nasdaq closed above the 15,000 level for the first time.

The major futures indexes suggested a gain of 0.1% for the Nasdaq at the opening bell.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Investors will be looking ahead to the Fed’s annual Jackson Hole Economic Symposium, which kicks off Thursday, for an update on U.S. stimulus.

Some Fed officials say the U.S. central bank needs to start winding down bond purchases and other stimulus as hiring and inflation rise. Others want to wait for stronger economic data that show a recovery is established.

GOLDMAN SACHS RAISES ODDS ON US FED TAPER ANNOUNCEMENT IN NOVEMBER

Wednesday's economic data will come in the form of the July durable goods report as investors scrutinize the data for signs that Delta variant worries are dragging on growth.

The Census Bureau is expected to say that new orders for manufactured big-ticket items slipped a seasonally adjusted 0.3% month-over-month in July, following June’s weaker-than-expected rise of 0.9%. Factoring out the transportation component, orders are anticipated to rise 0.5% in July, same as in June. Orders for core capital goods, a closely watched proxy for business spending, are seen jumping 0.5% in in July, slightly trailing the prior month’s 0.7% rise.

In Europe, London's FTSE added 0.2%, Germany's DAX slipped 0.1% and France's CAC was higher by 0.2%.

In Asia, Japan's Nikkei was little changed, Hong Kong's Hang Seng gave up 0.1% and China's Shanghai Composite advanced 0.7%.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35677.02 +73.94 +0.21%
SP500 S&P 500 4544.9 -4.88 -0.11%
I:COMP NASDAQ COMPOSITE INDEX 15090.200353 -125.50 -0.82%

On Wall Street, the S&P 500 advanced to 4,486.23 for its second record high in two weeks.

The Dow Jones Industrial Average gained 0.1% to 35,366.26. The Nasdaq composite climbed 0.5% to a record 15,019.80.

Banks and a mix of retailers, travel companies and restaurant chains accounted for much of the upward move. 

NEW HOME SALES RISE 1% IN JULY

Investors bid up shares in homebuilders after the government reported that sales of new homes rose modestly last month.

CLICK HERE TO READ MORE ON FOX BUSINESS

In energy markets, benchmark U.S. crude gained 10 cents to $67.63 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.90 on Tuesday to $67.54. Brent crude, used as the price basis for international oils, added 17 cents to $71.22. It rose $2.30 the previous session to $71.05.

The Associated Press contributed to this report.