S&P 500; US Indexes Fundamental Forecast – February 28, 2017

U.S. equity indexes are expected to open lower on Tuesday based on the pre-market trade. Ahead of the cash market opening, investors are likely to be influenced by Fourth Quarter U.S. Preliminary GDP, due to be released at 1330 GMT. It is expected to show the economy grew at a rate of 2.1%.

At the same time, the U.S. will also release a report called Goods Trade Balance. It is a report on the difference in value between imported and exported goods. A reading that shows the actual is greater than the forecast then could be good for the U.S. Dollar. It is expected to come in at -66.0 billion. This will be slightly higher than the last read of -64.4 billion.

Preliminary Wholesales Inventories are expected to come in at 0.5%, lower than the previous 1.0%.

Later at 1400 GMT, the S&P/CS Composite-20 HPI is expected to come in at 5.3%, the same as last month.

At 1445 GMT, investors will get the opportunity to react to the latest Chicago PMI data, which is expected to come in at 53.2. Slightly better than the 50.3 reported last month.

The next major report comes out at 1500 GMT. Conference Board Consumer Confidence is expected to show a read of 111.3, slightly lower than the previous 111.8. The Richmond Manufacturing Index reading is estimated at 10, down from 12.

After the initial reaction to these reports, the stock indexes should become rangebound and volume should plunge as investors prepare for President Trump address to Congress at 0200 GMT.