Futures rise with inflation data, earnings in view
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Pepsico down after annual sales growth forecast cut
U.S.-listed shares of Chinese cos fall
Futures up: Dow 0.14%, S&P 500 0.4%, Nasdaq 0.44%
Updated at 6:55 a.m. ET
By Lisa Pauline Mattackal and Pranav Kashyap
Oct 8 (Reuters) -U.S. stock index futures bounced back on Tuesday from a selloff in the previous session, as investors turned their focus on key inflation data and third-quarter earnings later this week for fresh insights into the Federal Reserve's interest rate path.
All three major indexes closed down around 1% on Monday, as a jump in Treasury yields, concerns about the impact of rising conflict in the Middle East and a repricing of U.S. rate expectation pressured equities.
U.S. S&P 500 E-minis EScv1 were up 22.75 points, or 0.4%, Nasdaq 100 E-minis NQcv1 were up 88 points, or 0.44%, Dow E-minis 1YMcv1 were up 61 points, or 0.14%.
U.S. Treasury yields retreated slightly from Monday's highs, though the yield on the benchmark 10-year note US10YT=RR remained above 4% as strong economic data last week prompted investors to trim bets on the scope of the Federal Reserve interest rate cuts over the rest of this year.
Traders have priced in a nearly 89% chance of a 25 basis point interest rate cut from the Fed at its November meeting. Bets on no rate change at the meeting also crept up slightly, according to CME FedWatch.
"We did see strong sell off yesterday so it's not unnatural to see a slight bounce, particularly as there's a vacuum of fresh data today," Fiona Cincotta, senior market analyst at City Index said.
"We're in a lull ahead of the busy end of the week. If we do get a hotter-than-expected inflation read, that might unnerve the markets quite quickly".
The CBOE Volatility index .VIX, Wall Street's "fear gauge," retreated from Monday's highs but was still trading around one-month high at 22.04
Meanwhile, PepsiCo PEP.O lost about 1% after the packaged food giant posted a surprise drop in third-quarter revenue and cut its forecast for annual sales growth.
The S&P 500 is expected to report a 3.2% year-over-year earnings per share (EPS) rise in the third quarter, "with gains for six of its 11 sectors," said Sam Stovall, chief investment strategist at CFRA Research.
Fed Governor Adriana Kugler said earlier on Tuesday she supported further interest rate cuts if inflation continues to ease, as she expects.
Some Fed officials, including John Williams and Alberto Musalem, had said on Monday that it would be appropriate to reduce rates over time.
A number of other Fed officials are expected to speak later in the day, including Raphael Bostic, Susan Collins and Philip Jefferson.
International trade balance data for August is also due later on Tuesday.
Investors were also watching out for the impacts of category 4 Hurricane Milton on the markets.
Among single stocks, shares of Honeywell International HON.O rose 2.3% after a report that the company is planning to spin off its advanced materials business.
U.S.-listed shares of Chinese companies slid, tracking losses in domestic stocks, as optimism over China's stimulus measures waned due to the absence of more specific details.
Shares of Alibaba Group BABA.N, JD.com JD.O and PDD Holdings PDD.O slumped between 7.4% and 10.2%.
Reporting by Lisa Mattackal in Bengaluru; Editing by Shinjini Ganguli
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Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
