US equity futures were flat premarket Tuesday as traders stayed on the sidelines ahead of inflation data due later in the week. The Dow Jones Industrial Average futures gained 0.1%, S&P 500 futures flatlined, and Nasdaq futures were up 0.1%. Investors are looking ahead to Friday's personal consumption expenditure price index for a fresh look at US inflation. Oil prices experienced an upward movement, with front-month global benchmark North Sea Brent crude up 2% at $74.64 per barrel and US West Texas Intermediate crude up 2.2% at $71.93 per barrel.
The Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index are scheduled for release at 9 am ET, which could offer insights into the real estate sector's health. The Consumer Confidence Index, expected to be released at 10 am ET, is anticipated to edge higher to 103.9 in September, an increase from 103.3 in August, according to estimates compiled by Bloomberg. In global markets, Japan's Nikkei closed 0.6% higher, Hong Kong's Hang Seng ended 4.1% higher, and China's Shanghai Composite finished 4.2% higher.
The UK's FTSE 100 saw a gain of 0.2%, and Germany's DAX index rose 0.6% during Europe's early afternoon session, indicating a positive trend in international equity markets. In the equities sector, shares of Snowflake ($SNOW) saw a 1.1% decline pre-bell following a planned $2 billion private placement of convertible senior notes.
Another company, Light & Wonder ($LNW), experienced a significant retreat of 15% after revealing that it received a preliminary injunction from a Nevada court related to its Dragon Train game. On a positive note, Generations Bancorp ($GBNY) shares surged 34% after the company announced its plans to voluntarily delist from Nasdaq.
Similarly, Liberty Broadband ($LBRDA) shares jumped 22% following the company's submission of a counterproposal to Charter Communications for a merger. As investors navigate these mixed market signals, it's clear that developments in inflation, consumer confidence, and corporate actions will play critical roles in shaping the financial landscape ahead..