ALSO READBroadcom reduces Qualcomm board nominees before March 6 showdown Qualcomm says open to talks with Broadcom for better offer U.S. security panel orders delay of Broadcom-Qualcomm showdown Broadcom says will not sell national security assets to foreign firms Broadcom raises offer to buy Qualcomm; NXP deal in doubt
By Sruthi Shankar
(Reuters) - Wall Street was set to open higher on Wednesday, gaining momentum from economic data that further eased fears of faster interest rate hikes in 2018.
"The market is still trying to weigh concerns about tariffs on one hand and understanding how the President acts and how he speaks openly and comes up with a different policy in the end."
Retail sales fell for a third straight month in February as households cut back on purchases of motor vehicles and other big-ticket items.
Another set showed U.S. producer prices increased slightly more than expected in February, but a gauge of underlying producer price pressures that excludes food, energy and trade services rose 0.4 percent last month, matching January's gain.
The reports follow Tuesday's consumer prices data that pointed to annual U.S. core inflation steady at 1.8 percent, cementing investors expectations that the Federal Reserve would not raise rates more than three times in 2018.
"I'm not thinking that positive futures will end up in a positive day," said Pavlik.
Signet Jewellers fell about 10 percent after the company reported lower same-store sales in the fourth quarter.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)