International
Tech Sector Rebounds on Wall Street Pre-Bell; Asia, Europe Steady
Wall Street futures pointed moderately higher pre-bell Wednesday, as the Tuesday "chip-wreck" led to tempered bargain-hunting by traders.In the futures, the S&P 500 rose 0.2%, the Nasdaq inclined 0.5%, and the Dow Jones was steady.The VanEck Semiconductor ETF (SMH) traded up 1% pre-bell.West Texas Intermediate crude oil traded down 1.9% to $71.82 a barrel, the lowest since early March, in morning action.Asian exchanges traded unevenly overnight, although Seoul's KOSPI index rose 3.3%, recouping some of Tuesday's 10% tumble.European bourses tracked steadily midday on the continent.On the earnings scene, Micron Technology (MU) reports quarterly results after-bell.On the economic calendar is the weekly MBA mortgage applications bulletin at 7 am ET, followed by the US Q1 current account report at 8:30 am. The MBA bulletin showed that mortgage applications rose 1% in the week ended June 19, following a 3.8% decrease in overall activity in the week ended June 12.The May new home sales bulletin posts at 10 am, followed by the weekly EIA petroleum status report at 10:30 am.The Atlanta Fed Survey of Business Uncertainty release for June posts at 11 am.In premarket action, Bitcoin traded at $62,490, and 10-year US Treasuries offered 4.48%. Spot gold commanded $4,062 an ounce.
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