Early Cues Point To Positive Open Of Wall Street
The political skirmish in Afghanistan is a worry for nations around the World. The U.S. is keeping an eye on the situation.
The third wave of COVID-19 is a real concern for investors.
The economic calendar for this week is relatively light. New and existing home sales, durable goods orders and personal income and spending might get special attention.
Early signs from the U.S Futures Index suggest that Wall Street might open positive on Monday.
As of 8.00 am ET, the Dow futures were adding 147.00 points, the S&P 500 futures were gaining 13.75 points and the Nasdaq 100 futures were adding 41.50 points.
The U.S. major averages finished higher on Friday. The tech-heavy Nasdaq outperformed its counterparts, jumping 172.88 points or 1.2 percent to 14,714.66. The Dow also climbed 225.96 points or 0.7 percent to 35,120.08 and the S&P 500 advanced 35.87 points or 0.8 percent to 4,441.67.
On the economic front, Chicago Fed National Activity Index for July will be published at 8.30 am ET. The consensus is for 0.10, while it was at 0.09 in the prior month.
HIS Markit’s PMI Composite Flash for August will be issued at 9.45 am ET. The consensus is for 59.5, while it was up 59.7 in the previous month.
Existing Home Sales for July is scheduled at 10.00 am ET. The consensus is for 5.830 million, while it was up 5.860 million in June 2021.
Six-month Treasury Bill auction will be held at 11.30 am ET.
Asian markets recovered from the lows on Friday. All major benchmarks closed in the green.
China’s Shanghai Composite Index rallied by 1.45 percent or 49.80 points to end trade at 3,477.13.
The Hang Seng Index of the Hong Kong Stock Exchange recovered from a nine-month low in the previous week to gain 265.28 points or 1.07 percent to close at 25,115.00. The day’s high was at 25,479.00 and the low was at 25,051.12.
Japan’s Nikkei 225 gained 480.99 points or 1.78 percent to close at 27,494.24.
European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is adding 58.30 points or 0.88 percent. The German DAX is progressing 37.18 points or 0.24 percent, the U.K. FTSE 100 Index is up 24.88 points or 0.35 percent.
The Swiss Market Index is rising 57.36 points or 0.46 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is gaining 0.61 percent.
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